Greaton gets all-clear on $260m project

Chinese developer Greaton, formerly known as Zhengtang Group, has won approval for its $260 million residential project in Sydney’s northwestern suburb Epping, joining other Chinese players such as Poly and Chiwayland in an area popular with Asian buyers.

The company purchased the 5170sq m site from Australian private developer Grocon in January, for a reported $60m. Greaton has also emerged as the buyer of Grocon’s $700m hotel project The Ribbon, at Sydney’s Darling Harbour.

The Oxford Central project, at 30-42 Oxford Street in Epping, will consist of 254 apartments across two 17-storey towers, as well as 625sq m of ground-level retail space. A two-storey heritage building on the site will be retained to form part of the retail precinct.

“Our vision for Oxford Central is to create a superior urban lifestyle destination for residents,” said managing director Nicho Tent. “This site was earmarked due to its strategic location in the epicentre of the state government’s plans to invest millions in redeveloping Epping and major transport infrastructure in the suburb.”