Western Sydney braces for $110m hotel and apartment boom

Sydney’s growth corridor in the west near the new airport is slated for a $110million hotel and apartment development called The Greater Liverpool, backed by businessman and former politician Dr John Hewson and the newly formed fund management and investment group he chairs, Joseph Banks Real Estate Fund.

The Greater Liverpool development, located at 402 Macquarie Street, Liverpool, is a joint venture with developer Ian Jordan and will comprise 72 apartments and 192 rooms in a four-star hotel. It is expected to open in 2024 and will benefit from Badgerys Creek Airport.

A $110 million residential/hotel development, called The Grand Liverpool, has been launched in Liverpool, Sydney’s west.Credit:

This comes as the tourism sector is coming back to life with an influx of foreign and domestic travellers, which has resulted in a slew of new hotels opening. The demand for apartments in the west has also prompted new projects.

Joseph Banks Property Fund will arrange the financing and take an equity stake in the development – a model it plans to roll out across a range of proposed mixed-use developments, each worth up to $200 million along the east coast .

Ross McDowall, the co-founder of Joseph Banks Property Group, said the group carried out due diligence on more than 20 projects before settling on The Greater Liverpool.

McDowall said it’s the first project in what he says is “a unique model to get developments off the ground, without facing many traditional hurdles like pre-sales.”

I co-founded Joseph Banks because our model stands out from the now crowded non-bank lending market.

Dominic Lambrinos, Joseph Banks Real Estate Fund

Financier and Managing Director Dominic Lambrinos, who recently retired from his Chifley Securities group, joins the Joseph Banks Property Fund team.

“I co-founded Joseph Banks because our model is distinct from the now crowded non-bank lending market, where there are too many mortgage providers and not enough viable projects offering adequate returns to investors,” Lambrinos said.

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