Stamford Land in A$220m Sydney project
Singapore-listed Stamford Land, the hotel and property arm of shipping tycoon Ow Chio Kiat, is planning to build some of Australia’s most expensive homes on the site of two old demolished warehouses and a heritage building.
Mr Ow bought the 99-year leasehold site on Sydney’s The Rocks area fronting Gloucester Street and Cumberland Street for A$22 million in June 2004 and is developing a 30-storey building with 122 apartments, five luxury terraces and commercial and retail space, at a total cost of some A$220 million (S$279 million). Even before the official launch, 55 per cent of the project is said to have been sold, at an average price of just over A$1,000 per square foot (psf). Read more
