Encompassing
nearly 5.8 hectares of land, the Sydney CBD site has been sold with concept
approval for a mixed residential, office, retail, entertainment and dining
precinct, while preserving the site heritage and introducing parks and open
space.
Design
concept approval for the former Kent Brewery site was received from the NSW
Minister for Planning, The Hon. Frank Sartor
in February this year.
Foster’s
CEO, Trevor O’Hoy said: “This is a great outcome for Foster’s, Frasers
Property and the city of Sydney.
It represents an opportunity for a new lease of life for this 160 year old
brewery site – while preserving its significant local heritage”.
The site,
the former home of the Tooth and Co. and Carlton & United Breweries, was
built on Blackwattle Creek in 1835. The brewery ceased operation in early 2005.
“Acquisition
of the CUB site, which constitutes the single largest remaining development
site in the city fringe, is testament to Frasers’ confidence in the Sydney market,” said
Dr Stanley Quek, CEO of Frasers Property.
“This
site is both an opportunity and a responsibility. In winning the bid, we’ve
demonstrated not only our financial strength but also our commitment to deliver
a thoughtful, sustainable mixed-use urban precinct of the highest standard that
will form the southern gateway to the city of Sydney.”
The sale is
expected to be settled by 30 June 2007.
http://www.fosters.com.au/mediacentre/6E0721C2E89943888BA17CA1929C43A7.htm