Sydney-based investment house, Princeton, has finalised the funding for two Sydney residential projects in Botany and Blakehurst, worth a combined value of $73 million. Commencement of construction will start in quarter two of 2022.
The Botany project, located on 1-5 Rancom Street and 1637-1647 Botany Road, will include the construction of 36 residential apartments and five retail shops, with an end value of $38 million. The suburb has grown in popularity with its rising number of parks and cafes and has all the vibrancy of city living with the pulse of a small village.
As Blakehurst attracts more luxury builds, the residential building, located on 6-8 Vaughan St. will include the construction of 32 residential apartments with an end value of $35 million.
According to founders of Princeton, George Gadallah and Craig Anderson, the announcement of these projects showcases the growth predicted in Sydney’s South region.
“Over the last number of years, we’ve seen growth in Sydney’s Southern region, leading to an increased demand for apartment living. We are excited to be at the forefront of this growth and to provide funding for contemporary apartment living,” said Gadallah.
Botany and Blakehurst will commence construction in quarter two of 2022 with completion expected in the final quarter of 2023.
Botany and Blakehurst join an already strong portfolio from Princeton, including one-of-a-kind luxury living, Eurangi, that commenced construction late last year.
“It’s an exciting time for Princeton and we are excited to add two more projects to our growing portfolio,” Gadallah continued.