Legal battle looms over Wilton North development
The future of 5500 homes at Wilton New Town is at risk, with a NSW Supreme Court battle brewing between major landowner Bradcorp and Chinese-based Country Garden Australia.
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The future of more than 5500 homes in Wilton New Town is at risk, with a NSW Supreme Court battle brewing between major landowner Bradcorp and Chinese-based developer Country Garden Australia.
Bradcorp launched legal proceedings in December after Country Garden Australia elected to not exercise an option to buy Bradcorp’s 870ha Wilton North site.
Bradcorp chief executive Peter Brennan, who describes Country Garden Australia as “delivery partners”, said his development company would not compromise its 17-year vision for Wilton North.
“(Bradcorp) is committed to working with a delivery partner that has both the capability, commitment and experience to deliver something extraordinary for the people of Wollondilly,” Mr Brennan said in a statement.
“Bradcorp is proud of its reputation, we have always met our obligations and always will.
“When others don’t they should be held to account.”
It has been reported “unfulfilled commercial conditions” was the reason Country Garden Australia elected to not buy the site. The Australian Financial Review reported more than $300 million was discussed for the sale.
— Country Garden Australia acquire land near proposed M9 Outer Sydney Orbital
— Walker Corporation says no deal struck with Country Garden Australia
In a statement to the Macarthur Chronicle, Country Garden Australia said it remained interested in Wilton North despite not purchasing the site.
“We are disappointed that Bradcorp has been unable to present the land in a way which will enable it to be developed in accordance with Country Garden’s vision, particularly given the significant investments made in the project by Country Garden,” a spokesman said.
“We remain very interested in North Wilton and are disappointed that the land is not presently able to be developed in the way that Country Garden had envisaged.
“We will continue to grow our portfolio of masterplanned projects across Australia, which remains a key investment area for the group worldwide.”
Country Garden Australia has emerged as a major player in the Macarthur region, with the Chronicle revealing the global development giant has bought up more than 350ha in Cawdor since 2017.
The Chronicle understands Bradcorp is continuing to work on development applications for the first stages of the masterplanned community.
Wilton North was rezoned by the NSW Government in November, following the rezoning of Walker Corporation’s Wilton South East precinct earlier last year.
The matter between Bradcorp and Country Garden Australia was before the NSW Supreme Court last Friday.