Princeton has announced the finalisation for the funding of two Sydney residential developments, located in Botany and Blakehurst.
The two projects are worth a combined $73 million, with construction for both slated for the second quarter of 2022.
The Botany project (pictured below), 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 seen a surge in popularity in recent times, with a number of parks and cafes making for a township with the of a city living with the pulse of a small village.
As Blakehurst attracts more luxury builds, the residential building located on 6-8 Vaughan Street will include the construction of 32 residential apartments for a sum of $35 million.
Princeton Founders George Gadallah and Craig Anderson believe the projects will help to foster the predicted growth of 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,” says Gadallah.
The two projects sees Princeton’s portfolio boosted further, following the commencement of construction on the investment company’s Eurangi development in Bondi. Completion is expected for both the Botany and Blakehurst projects in late 2023.
“It’s an exciting time for Princeton and we are excited to add two more projects to our growing portfolio,” Gadallah says.
For further information, visit princetonmortgagefund.com.au.
