News and Announcements
Folkestone Enters JV For Hotel Development At Green Square
- Published November 16, 2016 11:26AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
15th November 2016, ASX Announcement
Folkestone (ASX:FLK) announced today that it had entered into a 50/50 joint venture with Furnished Property to develop a 142 room hotel at Green Square, Sydney.
The site, at 18 O’Riordan Street, Alexandria, is located within the $13 billion, 278 hectare Green Square Urban Regeneration Area (‘GSURA’) and is strategically located approximately 100 metres from the Green Square Train Station. The Sydney Airport Domestic and International Terminals are two and three stops respectively to the south with Central Station, one stop to the north. Green Square is one of the most significant urban transformation programs under construction in Australia, revitalising the industrial edge of Sydney’s inner south into a vibrant global village. Green Square Town Centre, which is the centerpiece of the GSURA, is in close proximity to the proposed hotel.
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