Iwan Sunito's One Global Capital set for three-tower Macquarie Park development

Iwan Sunito's development firm One Global Capital has locked in it's next project.

One Global Capital, which will deliver the first residential buildings at Mastery by Crown Group in Sydney's Waterloo, has secured a huge six block, 6,974 sqm site in Macquarie Park.

Plans are being put together for three towers on the site which incorporates 7-11 Lachlan Avenue and 157-159 Herring Road, which will have 270 apartments, a 100-room hotel, and specialised retail.

The project provides for a shared concierge and premium community facilities allowing residential purchasers lower cost strata levies along with access to services usually only accessible in hotels such as 24-hour food and beverage services.

Sunito, who is the Founder at One Global Capital, said he was excited to announce the introduction of the new premium, ‘signature selection’ residential and hotel “platform” which aims to set a new benchmark in luxurious larger-sized residences, hotels, retail and facilities.

“The platform has been specifically established to work with funds and financial institutions in stand-alone joint ventures,” Sunito said.

“As the first of many acquisitions, the Macquarie Park site is a significant investment which we plan to deliver a truly extraordinary residential offering to the market, unlike anything else currently available in Sydney.

“The Macquarie Park site is ideally located for residential apartments as it is within easy walking distance to Macquarie University, the recently expanded Macquarie Centre and Macquarie Park Metro Station.”

Savills Director Stuart Cox who handled the sale, said it is largest collective sale in Australia so far this year, with all six adjoining blocks having to settle on the same day.

“This was a very unique offering for Macquarie Park providing future residents within this development the opportunity to live within 300 metres of Macquarie University, Macquarie Centre, Macquarie Railway Station and the Macquarie Bus Interchange,” Cox said.

“Also significant is the site’s 77 existing apartments which will remain tenanted until a DA is achieved later this year.”

It is envisaged the project will be brought to market in 2023.

The new company is a separate venture from Sunito’s other property development company, Crown Group of which he is Chairman and Group CEO.

Crown Group recently scrapped it's plans to break into the Melbourne market, but are still set to push ahead with their first project in Brisbane.