On Friday 13 May, Devus Pty Ltd, an entity that is 50% owned by Tony Merhi, completed to sale of the site at 47 Spurway and 30 & 33 Fairway Drive, Norwest to Sekisui House. This sale was the culmination of a long period of planning, negotiation and working with
The site has achieved Gateway approval and the Planning Proposal allows for 1300 apartments of varying size and mix, contained within a number of buildings in a range of heights from 16m to 41m. Additional refinements include improving views into the proposed parkland; a new street to a more walkable project; and a shared pedestrian and cyclist path around the sites perimeter to connect people to a range of places. By focusing on the pedestrian experience and encouraging walking the site is able to capitalise on Norwest’s transit focus.
This project forms part of Norwest’s evolution towards a more urban, walkable and transit-orientated centre. Within a 10 minute walk of Norwest Train Station and town centre, the project creates a precinct that that forms an attractive gateway from the North and reinforces the vision for Norwest Station.
This sale has received national attention, with reporting in The Australian Financial Review, the Sydney Morning herald and other news outlets.
The purchaser, Sekisui House is one of the largest residential developers in Japan who have constructed well over 2 million dwellings since they were formed in 1960. They entered the Australian Market in 2009 and are now one of the fastest growing home builders and community developers in Australia. They have 10 major projects either completed or in the pipeline. They create innovative and creative home designs and have a sharp eye for detail and are meticulous in their quality standards. With this purchase, Sekisui House is strengthening their presence in Australia, where they have invested over $2 billion and they have planned more projects over the next 20 years.