Chinese developer Zone Q has awarded the construction contract for its residential development in Sydney’s Milsons Point, with work expected to commence later this month.
Zone Q awarded the contract to build the 63-apartment project to local builder Ceerose. The developer is moving ahead with construction with 85 per cent of the nine-storey development sold.
The Koichi Takada-designed apartments, named “Aqualuna” are located within a 2-minute walk from Aqualuna, are located within a 2 minute walk from Milsons Point train station with direct access to Chatswood and the Sydney CBD, Milson’s Point ferry terminal and North Sydney’s CBD.
The international development company had recently acquired several assets across Australia. In 2018 alone, Zone Q acquired two buildings at 55 and 182 St Georges Terrace, for $45 million and $25 million respectively in Perth, while also picking up Westralia Plaza for $87 million.
The Perth acquisitions added to their West Australian portfolio which also includes the $70 million mixeduse “Pinnacle” development in South Perth. Pinnacle marked Zone Q’s entry into the Australian market.
The developer also recently acquired a Melbourne office tower occupied by the Victoria Police for $122 million from Sydney fund manager and adviser Anton Capital.
Construction on Aqualuna Residences is scheduled for completion in the first quarter of 2020.