Private equity real estate firm Conquest has finalised the acquisition of the Eastlakes Shopping Centre in Sydney’s eastern suburbs, which it will rebrand into the Queensbridge Build to Rent development.
This move highlights the company’s vision to transform the precinct into a dynamic community hub, with 800 homes spread across six towers.
A Queensbridge-branded shopping precinct would form the podium of the mixed-use development. The total project cost is expected to reach $400m. The firm is targeting a $1bn end value upon completion.
“Our focus is on creating enduring places that serve the evolving needs of the community. We’re proud to be delivering a development that seamlessly blends convenience, lifestyle, and long-term housing solutions.”
Micheal Akkawi, CEO, Conquest
Building on this momentum, Conquest is set to unveil its second flagship development, Queensbridge Shopping Mall, later this month.
The mixed-use scheme will introduce a Build to Rent element directly above the mall for over 1,000 families, setting a benchmark for integrated urban living in Sydney.
Anchored by Woolworths Group, the two-level Queensbridge Mall will feature a curated selection of premium food and beverage outlets alongside a comprehensive health and wellness precinct.
These offerings are designed to cater to both residents and the wider local community for years to come.
This latest development underscores Conquest’s commitment to redefining urban precincts with integrated retail and residential assets, prioritising liveability and community impact in its developments.
The acquisition was brokered by Stuart Cox and Johnathon Broome of property consultancy Savills.
