From Beer Kegs to Strata Apartments

Just a few blocks from Central Station in Sydney once stood a great symbol of Australia.

It was the Carlton & United Breweries main brewery site.  Occupying a whole block of 5.8 hectares, with buildings over 10 storeys and fronting the mighty Paramatta Road.  I can only image how many millions of gallons of beer left that place and found homes in hearty and healthy Australians.

But things have changed (and are virtually reversed).

Instead young Australians are now finding homes on the site as it is redeveloped into a new symbol of Australia's high density living spaces in an inner urban village.

Frasers Property Australia has been developing Central Park Sydney on the site for a few years now.  But just a few days ago the next stage of the $2 billion development has been approved.  The new approved buildings add 319 one and two bedroom units to the 600 apartments already approved and they expect completion in early 2013.  The new buildings will include elevated neighbourhood gardens, green walls and use solar energy. Plus the development will have its own water recycling and blackwater treatment plant.

And (interestingly despite recent gloom and doom predictions for property) the managing director of Frasers Property Australia, Dr Stanley Quek, said he has “every confidence in the Sydney market” and “there's a great shortage of apartments, there's pressure on rental properties and pressure for people who want to live in the city,".

So maybe we can share a beer or two on the balcony of your new Central Park apartment in a few years.

Francesco …