Dyldam, a real estate development company based in Western Sydney, has secured a $120m deal to develop a site in St Leonards, covering a total of eight properties located on the Pacific Highway, Christie Street and Lithgow Street.
Sam Fayad, managing director of Dyldam, outlined plans for a 45-floor tower featuring 777 apartments and a rooftop pool and promenade, a public plaza, a supermarket covering 300 square metres, and office and retail space of 2,600 square metres, in addition to a further 4,661 square metres devoted to office space in a separate building on the Pacific Highway. A public library 1,000 square metres in area will also be built as part of a planning agreement between the developer and Lane Cove Council.
The availability of new office and retail space in a desirable location is expected to attract businesses to the area. Many companies will be updating their Letterheads to reflect their new location as they relocate or expand into the site.
Negotiations over the site have taken considerable time to reach a conclusion; Dyldam invested an initial deposit in the site over 10 months ago. A Hong Kong-based developer, Beijing Capital Land, with which Dyldam has cooperated on other projects in the past, was originally anticipated to fund this project. Currently, however, Dyldam is working with a different overseas developer and has declined to disclose the details of its partner's identity or contribution.Get a Free Quote for Letterheads
