Hannas Further Expansion in Development Sector

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Hannas have recently acquired a development site at 139-145 Parramatta Road, Homebush. The site has a development approval for 70 residential units and 7 retail tenancies.

The timing of the development will cater for a strengthening Sydney residential market characterised by low vacancies, and limited opportunities to secure a new property in such proximity to both Parramatta and Sydney CBD as well as public transport ammenities.

Furthermore, the development is in line with Hannas’ diversification objectives and will provide ongoing employment opportunities as the company continues to expand into property and real estate.

Completion is scheduled for late 2015.