5 BUSINESS NEWS Aland buys Gosford site will build 560 units ALAND’s proposed 3-tower development on the Frogys site in Gosford Big enough to deliver yet small enough to care, our team of accredited, experienced senior lawyers are true experts in their fields of law. Professional, practical and passionate, we’ve been trusted by the Central Coast for generations. YOUR LEGAL LIFE PARTNERS AUBREYBROWN.COM.AU there are many potential buyers who missed out and will be looking at Amalfi by ALAND. I think buyers will jump at the chance to buy in the new development.” “While the total cost of Amalfi by ALAND is $600 million the project will provide several billion dollars of economic stimulus to Gosford and the Central Coast region, so the impact of this development is going to be quite considerable.” Mr Tadrosse said that construction will begin in early 2026 with expected completion in Quarter 3 2028. SYDNEY PROPERTY DEVELOPER and builder ALAND announced in mid-December that they had acquired the former Frogys roller skating site at 50-70 Mann Street, Gosford. At the same time they announced that they would develop the site with 560 apartments over 3 towers, a $600 million project. ALAND was the first property developer to take the risk of investing in Gosford with the Archibald, a $375 million327-unit and 130room voco® hotel that will be completed in the first half of 2025. The latest project, to be called Amalfi, will comprise 506 apartments and 9,530sq m of retail space. The 8,564sqm site with three street frontages was put on the market last year by former owner Mew Hong Kong Macau Australian Pty Ltd, which had already received DA approval for a similar project on the block in 2022. The existing DA approval is for 500 residential apartments, an 80-room hotel, a tavern, and a supermarket, cinema, restaurants and specialty stores. Aland’s three-tower project will feature one, two and three-bedroom apartments and four-bedroom “sky homes” with a rooftop pool on one of the three towers. Expected pricing in AMALFI will be around $650,000 for onebedroom apartments to $1.5 million for the Sky Homes. Commenting on their acquisition ALAND CEO George Tadrosse said, “There is strong pent-up demand for this type of apartment development in Gosford. We sold 99% of the 323 apartments at Archibald by ALAND 10 months before completion, so we know According to JLL, which sold the Mann Street site this year, Gosford has experienced “tremendous” population growth, increasing 39 per cent since 2016, and is forecast to grow by 100,000 by 2041 While known as the Frogys site the much larger block was originally owned by the Central Coast Leagues Club and was sold to Sydney property developer Spurbest in 2001 with plans to build a twin-tower development of 16 storeys. Spurbest’s plans were frustrated by a backwards thinking Gosford Council at the time saying that 16 storeys were too high. CENTRAL COAST BUSINESS REVIEW FEBRUARY 2025
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