The Ledered portfolio was sold for $300M after IP Generation entered into an agreement for six “land-rich” neighborhood centres across Sydney and regional NSW.
The company, headed by Chris Lock and former Scentre executive Greg Miles, purchased the mall portfolio from rich-lister Paul Lederer, who built up the portfolio with his late uncle Andrew Lederer.
The Lederer Group recently announced the opening of an independent high school campus within the Imperial Shopping Centre in Gosford. The centre was part of the portfolio sold to IP Generation.
The Lederer Group can now move forward with its Gosford Alive project to replace the old shopping centre with a five-tower mixed-use development.
The project is across the road from Imperial Centre and will be the most ambitious project to date in central Gosford.
The Lederer Group was previously given the green light on its $345m Gosford Alive development in 2020 to replace the “dead shopping mall” with a five-tower mixed use precinct last year.
The concept plan and stage one works on the 14,194sq m site have been approved by the NSW Independent Planning Commission.
The group, led by billionaire and co-owner of the Western Sydney Wanderers, Mr Lederer, will now be able to build towers up to 101m high on the Donnison St - Henry Parry Dr site.
The proposed tower plans, by Buchan architecture, only range up to 88m and includes 727 units, 1015 car park spaces and 5079sq m of retail and commercial space in the podium of the buildings.
There is also 3047sq m or 21% of the site with soft landscaping and 3692sq m of communal space, including a pool and rooftop gardens designed by Arcadia Landscape Architecture.
The Gosford Alive plans went to the commission following an objection from the Central Coast Council in regard to concerns about design, built form, density, car parking, traffic and road infrastructure, environmental impacts and public benefits.
