BUSINESS NEWS
Sydney developer buys Archibald site in Gosford SYDNEY-BASED DEVELOPER ALAND has bought the landmark The Archibald site on the corner of Mann and Donnison Streets, Gosford with plans to start construction this year. The 5,656 sqm site hit the market in late May after owners MacArthur Projects Pty Ltd was placed in Liquidation and with agents Colliers International appointed to sell the property with Development Approval for two towers, up to 26 storeys high, with 289 apartments, sky bar, hotel as well as 167 hotel suites comprised in the project. ALAND CEO George Tadrosse confirmed that the sale was finalised in mid-June after an Expression of Interest process run by Colliers International which closed in March. “It’s a sensational site right in the heart of Gosford, which is increasingly being seen as a key regional location,” Mr Tadrosse said. “We’re delighted to have secured the property and look forward to taking the plans for the project forward to deliver a fantastic new addition to the Gosford skyline. “Subject to planning, we are looking at launching the project sales in spring and starting construction this year.” Mr Tadrosse said while the next step was a comprehensive project review, he expected that “bringing the development to life” would happen quickly. “We have an opportunity to make a significant contribution to the city and we’re excited to get this project underway,” he said.
ALAND head of development Ryan Lane said that depending upon pre-sales they expected construction to start in the fourth quarter of this year. He confirmed they would largely stick to the Dickson Rothschild architectural design, approved in 2019. “Aesthetically we are very happy with the approved design and we will only be looking to make minor design changes to support ‘best practice improvements’ targeted at constructability, liveability, and functionality,” Lane said Construction on The Archibald started Artist’s Impression of the proposed The Archibald development on the corner of Mann in early 2020 when and Donnison Streets, Gosford the Union Hotel was demolished and and property management”. sewer lines relocated thus preserving the They were established in 2002 and have Development Approval. built more than 30 developments across ALAND is an Australian-owned family the Sydney region with current probusiness, described as “one of Sydney’s jects including The Hoxton in Liverpool, largest and leading private groups working Paramount on Parkes in Parramatta and within development, construction, finance The Gladstone Village in Merrylands.
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