Edan on Carramar is a luxurious attached housing development in North Ryde close to the new Macquarie Park Growth Centre and Lachlan Line entertainment precinct. The Development is within ~1km of the new precinct and Metro rail line, and will provide two,  4 bed, 3 bath, single garage houses with low maintenance land.  This type of product is in high demand with the local Asian demographic and is forecast to be in critical undersupply.  Sales will commence mid 2018, and an Edan on Carramar investment fund made available late 2017.

Project Progress

Acquisition &
Feasibility

Design
Approval

Construction
Approval

Construction

Completion

The Construction Certificate work has been completed and submitted for approval. No further work is expected for CC and approval is expected Feb 2018.

• Construction Certificate planning has resulted in considerable refinement to our design to improve amenity and significantly reduce construction cost. Design improvements include: Removing internal voids and increasing internal usable area, multi story wall alignment to reduce build costs, refinement of construction materials to improve build quality,  reduce material costs, and reduce the number of trades. Lastly excavation and retaining wall design has been rigourously reviewed to simplify and reduce costs. An environmentally friendly yet asthetic approach of reusing excavated material to create Gabion retaining walls will be used.
• We have taken the opportunity to test the market and see if project IRR is improved by selling as a development site with DA and CC in place. This  campaign has commenced and will run from Jan 2018 till Mar 2018.
• Mean time, Project finance is being finalised.  Assuming the site is not sold, we will commence construction in Q2 2018.
• Tenders have been issued for all work and are within top end of budget and schedule. Contract negotiation and finalisation will shortly commence.

Project completion is forecast for Q2 2019.