Fridcorp has acquired the remaining 50 per cent share of the $700 million Beyond mixed-use project at 93 Forest Road, Hurstville and has also secured unconditional funding to deliver the highly-anticipated four-tower development.
The project is being delivered with architecture by DKO, interiors by Woods Bagot and with Piety as the builder.
Fridcorp Director, Nigel Givoni, said the company was proud to be committed to its vision for the project.
“We believe the timing will work well within the Sydney market due to the current lack of supply,” he said.
Mr Givoni added that Beyond had been one of Fridcorp’s “toughest projects to get to financial close”, due to its scale and the company’s commitment to providing a quality development.
“While it has been challenging to get construction underway due to the current economic and funding climate, Fridcorp is proud to commence what will be an exceptional-quality, design-led project with our builder, Piety,” he said.
The new precinct in Hurstville will have four sculpted towers varying from 8 to 20 levels and will comprise approximately 600 one-, two- and three-bedroom apartments.
The towers will front the newly upgraded Kempt Field Park, and will be positioned around the 4,500-square-metre retail plaza.
The development will also supply 900 resident car parks, including 300 car parks available for visitors and retail use.
Stage one of the project will deliver a Woolworths supermarket and associated retail, as well as the 200 apartments, of which 70 per cent have already been sold.
Stage two will deliver two towers, one of which is 50 per cent sold, with the last remaining tower expected to launch to market in early 2020.
Piety general manager, Sammy Solomon, said the builder was looking forward to working on Beyond.
“Our team, working closely with Fridcorp, is dedicated to the vision of this high-quality project, delivering a new precinct to the local area,” he said.
The apartments in stage one are slated for completion in early 2021, with stage two expected for completion mid-2021.