Developers snap up historic Putney site
The historic Halvorsen Boat Yard, on 1.58 hectares on the banks of the Parramatta River at Putney, has sold two years after hitting the market.
A partnership comprising Abadeen Group, Perifa, Phoenix Property Investors and Mitsubishi Estate Asia, is the buyer.
The purchase price is as yet undisclosed but guide upon listing was over $70 million.
Australian Defence Industries, controlled by Thales, held it nearly 26 years, initially for the Royal Australian Navy.
Recently it has been retained as an investment.
Halvorsen boatshed
The site was offered permit-ready for the first stage of a residential based mixed-use project – with 52 apartments, 17 townhouses, retail and restaurant facilities – a gross floor area of c11,772 square metres.
The owners have since September been marketing residences off-the-plan.
A 36-berth marina to be branded Pier 20 is also part of the masterplan (story continues below).
Putney Wharf Residences
With an end value of c$300m, due for completion in 2027, Putney Wharf Residences, as the wider project is being branded, would repurpose an old boatshed off Waterview Street- where First Fleeter James Squire formed a brewery in the 1790s – with apartments.
Norwegian born boat builder Lars Halvorsen completed the current one in 1925. Townhouses and two apartment buildings would be constructed around it.
For years after, the property was owned by the state government.
Colliers’ Trent Gallagher and James Cowan were the agents.
Perifa is the development arm of Versatile Group.
Putney is about 15 kilometres west of Sydney’s CBD and 11km east of Parramatta.
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