In December 2014, Folkestone entered into a 50/50 joint venture with Lyon Group, a leading Sydney developer, to develop a strategically located, mixed-use site immediately opposite Hornsby train station and Hornsby Westfield in Sydney’s north-west.
The JV either owns or has option circa 3,200 square metres. The JV is seeking to consolidate further land adjoining the existing properties to unlock a significant mixed use (residential, commercial, retail and community) development opportunity in this strategic location. Master planning activities continue and negotiations progresse with key stakeholders in relation to the site.
Folkestone may sell down part of its investment to introduce third party capital into the project prior to rezoning/DA approval and/or at the development stage.
|Folkestone Share (%)||50|
|JV Partner||Lyon Group|
|Forecast Completion||Mid 2019|