Under the John Cootes Furniture Acquisition Agreement, Elanor acquired JCF's retail site at Merrylands, NSW, from which JCF operates its main showroom. The retail site combined with several adjoining residential properties that are also owned by Elanor. Comprised of a total of approximately 26,000 sqm of land (Merrylands Property), Elanor management considers underutilised.
In June 2018 Elanor Investors Group exchanged unconditional contracts for the sale of its Woodville Road, Merrylands Property.
The property was purchased in July 2014 as part of the John Cootes Furniture acquisition. The sale follows Elanor’s success in obtaining a Gateway Determination from the NSW Department of Planning and Environment which supports the rezoning and redevelopment of the 26,135sqm site into a mixed use scheme. This redevelopment is expected to comprise approximately 540 apartments and 7,500sqm of retail and commercial space.
The transaction completed on 3 August 2018.
|Location||258 Woodville Rd, Merrylands NSW 2160|