Sunland Group latest venture into the Sydney’s Northern Beaches, has come with an $18 million price tag.
The three hectare site in Warriewood is poised to hold 81 town houses with an estimated value of $80 million.
Settlement is in 12 months following approvals, with the project slated to begin 2016.
The national property developer already owns six hectares of prime real estate in the growing region.
The purchase will add to Sunland’s stock of Aussie housing and urban development projects, which are reported to have an end value of more than $3 billion.
Sunland Group reported a net profit of $14 million for the financial year ended June 30th 2014.