Developer Sekisui House Australia has bought a masterplanned estate in Norwest in Sydney’s northwest from Aqualand.
The new $375 million estate is set for development over the next five years and will offer hundreds of high-quality, high-end liveable homes underpinned by industry-leading sustainability.
Norwest is 31km from the Sydney CBD, with the estate situated near the Norwest Business Park and Norwest Metro Station.
“We are excited to be expanding to another site in Sydney’s northwest, building on our active acquisition strategy in greater Sydney and allowing us to deliver our well-appointed and sustainable SHAWOOD homes to more Australian homebuyers,” said Sean Osawa, CEO of Residential Communities and Home Building at Sekisui House Australia.
“The vision for the Norwest masterplan is to incorporate Sekisui House’s unique approach to placemaking and community building, combining the very best in design, quality, innovation, and sustainability to deliver a vibrant new estate.”
The deal comes after Stockland and Sekisui House have teamed up to boost new housing in growth areas in the southwest and northwest of Sydney last month.
Last month’s agreement strengthened Stockland’s presence in Sydney’s southwest by developing the Lakeside precinct at Gledswood Hills, while allowing Sekisui House to grow its home building business at Stockland’s Elara and The Gables masterplanned communities in north-west Sydney.
In recent housing development news, developer ID_Land bought three parcels of land spanning 59 hectares in the southeast Melbourne suburb of Clyde for $140 million last month.
Last month, Stockland and Western Sydney University announced plans to develop a 99-hectare site at the university’s Penrith campus into a mixed-use precinct, while developer Peet took full ownership of its Flagstone City project in Brisbane’s southeast growth corridor after acquiring Spirit Super’s 50% stake for $46.15 million in January.
Last December, Mirvac bought an 80ha parcel of zoned land in Cobbitty, located about 60km southwest of Sydney’s CBD, to develop into a masterplanned neighbourhood.