Walker Corporation and Kemenys have teamed up in a joint venture to develop $1 billion worth of mixed-use residential developments across three Kemenys owned sites in Sydney. The sites consist of the iconic Kemenys food and liquor outlet in Bondi, Kemenys head office at Green Square and a major gateway development site in Homebush.
Chairman of Walker Corporation, Mr. Lang Walker, said “Kemenys is a good example of how a well-established business can unlock their high value land holdings, to deliver top quality residential dwellings and retail amenity to service the growing number and needs of city dwellers.”
Each location has its own unique features. Part of Sydney’s food and wine scene for over 50 years, the Bondi property is located within minutes of Bondi Beach and Bondi Junction. The Green Square location is just metres from the railway station and town centre, while the Homebush property is prominently located in the commercial heart of Homebush; well-connected by the train station, future light rail and bike-paths and part of Urban Growth’s Parramatta Road Strategy.
The three sites comprise 1.5 hectares and, in total, will deliver around 1,000 new apartments and 15,000 square metres of retail space.
Each site will be transformed in a development of high quality residential apartments above a lively marketplace. Managing Director of Kemenys, Mr. Gabor Kemeny, confirmed that, in addition to fresh food markets, specialty foods and groceries, cafés, restaurants and kiosks, “the Kemenys business will feature prominently in all of the centres – each of which will become first class food and wine destinations.”
Planning proposals are expected to be lodged in the next few months, with construction expected to start in 2018 and a staged completion expected in 2020.
Mr Walker said “each of these locations are in demand from people seeking a well-connected and vibrant urban lifestyle, as well as existing residents wanting to upgrade to quality apartments that are close to transport links and amenities. Our proven mixed-use approach will deliver first-class apartments, serviced by high quality retail and hospitality on the ground level, that will attract prospective buyers and invigorate their neighbourhoods.
“Walker has a very strong 50-year history of transforming established sites to become thriving communities where people can work, live and socialise”, he added. These projects include King Street Wharf, The Wharf at Woolloomooloo and Rhodes Waterside.