Developer Aqualand Australia has paid $180 million for almost one hectare of prime harbour-side property in the Sydney suburb of Pyrmont. 

The Australian arm of the Chinese developer last week purchased the waterfront REVY site at Darling Island, which includes 8 Darling Island Rd, 6 Darling Island Rd and 34-38 Pirrama Road, which is currently occupied by Channel Seven.  

The sale means there could soon be almost 80 new luxury apartments on Darling Island, with the eight-level, federation heritage building at 8 Darling Island Road having development approval for conversion to 46 luxury apartments, while 6 Darling Island Road has a current approval for an eight-storey building featuring 32 luxury residential apartments.

The property at 34-38 Pirrama Road incorporates two heritage buildings and a smaller gatehouse building all subject to Channel Seven’s tenancy. 

Aqualand General Manager Wayne Xiong said the developer considered the land to be one of the most exciting locations in Sydney. 

“Darling Island is one of the most exciting pieces of land in Sydney and this development by Aqualand will create an opportunity for those looking to enjoy a luxury lifestyle on the prestigious Sydney Harbour foreshore,” Xiong said

“Over the next four years, this will become one of the most sophisticated and attractive residential areas in Australia.”