EG is pleased to announce the 100 South Creek Rd, Cromer NSW Development Application was granted this week.
The site represents one of the largest employment renewal opportunities in the Northern Beaches. Currently sitting vacant, the proposed reuse has the potential to bring up to 600 jobs to the local area in a mix of temporary and ongoing roles as the site matures.
Formerly the headquarters of pharmaceutical company, Roche, the $44 million site transformation will establish The Northern Beaches Business Park with self-storage facilities, commercial office space, a café, and 11 warehouse and distribution units.
The strategically significant site is located in close proximity to local infrastructure, including the B-line bus route and will benefit from the proposed Beaches Link Tunnel. The industrial park will be a connected hub for both local employers and suppliers.
“In a market starved of local investment, EG is thrilled to be injecting back into the economy of the Northern Beaches Local Government Area,” said Associate Director, Sean Fleming.
“The project offers the potential for a diverse range of local urban service outcomes, including creative and hi-tech industries, modern warehousing local business ‘start-up’ incubators and a place for innovation,” Development Director, Grant Flannigan continued.
Important heritage elements of the site will be preserved for sympathetic adaptive re-use, including former Roche office buildings, a residence, associated landscape features and the iconic hexagonal five-storey tower.
The redevelopment is expected to be delivered in Q3 2021. The project is set to be delivered by EG’s Development Division. In their 20 successful years, EG has proven their dedication to creating sustainable and cohesive urban spaces, delivering high-quality residential and mixed-use projects to create connected communities. EG Developments has a consistent track record of delivering outstanding projects including the award-winning mixed-use sites The Flour Mill at Summer Hill and Tempo at Drummoyne.
The asset is a part of EG’s Yield Plus Infrastructure Fund No. 2, an AU$750 million fund that launched in 2016. The fund mandate targets assets along with new or upgraded infrastructure around Australia.