Significant Site Purchased by McCloy & Stevens Joint Venture
A joint venture between Stevens Group and McCloy Group has finalised an agreement with Hydro Aluminium Kurri Kurri for the sale of their 2000 hectare smelter site and buffer land, signalling a boost to the local economy partnered with significant environmental outcomes.
Stevens Group is one of NSW’s leading private property development companies, with significant experience in the development of industrial land, along with residential and commercial offerings. McCloy Group is likewise a Hunter-based, award-winning residential land developer currently delivering more than 5000 residential homesites across 15 master-planned communities within NSW, along with commercial office developments.
The two companies have experience working together as partners on several projects including Radcliffe at Wyee and Principle Living which provides premium lifestyle offerings for seniors in locations across the Hunter.
Hydro Aluminium Managing Director, Richard Brown, is delighted with the outcome.“We have been concentrating on demolition and remediation for a long time now, so are pleased to be able to progress to this stage, where parcels of land can be developed, and Kurri Kurri can start to see economic benefits again,” he said.
“The Maitland and Kurri Kurri areas have a lot of potential for further growth given this area’s strategic location close to the Hunter Expressway and the Maitland, Cessnock growth corridor. Significant residential development has already occurred along this corridor, and our plans for housing there will complement and enhance this growth,” adds Shane Boslem, Project Director and spokesperson for the Stevens/McCloy joint venture.
“The site’s southern area is ideal for employment lands due to its proximity to the Hunter Expressway, access to significant existing infrastructure and the existence of a rail line through the site, and of course a skilled workforce. The economic benefits associated with the redevelopment of the site has the potential to include significant jobs boost,” he said.
Hydro has been continuing with the demolition and remediation of the site, with the large stacks demolished in May 2019, the demolition of the site which has been undertaken by CMA Contracting since April 2017 is currently around 80% complete, and contractor Daracon was awarded the remediation contract last month.
Rezoning applications have received endorsements from both Cessnock and Maitland councils, and both councils will exhibit the rezoning plans and seek feedback from the community. This includes rezoning for business and industrial development on and around the smelter site, and rezoning for residential development along Cessnock road near Cliftleigh and Gillieston Heights.
A Community Reference Group, set up in 2014 and consisting of 12 local representatives from Maitland and Cessnock Councils, community groups and residents, has been a great sounding board for the project and a conduit between the community and Hydro team. The group held their 37th meeting late last month, with Hydro expressing gratitude for the voluntary contribution made by the members.
The first steps towards residential development are expected to get underway within six months of rezoning being completed, which is anticipated to be late this year.
The McCloy Group was founded in Belmont in 1961 and today creates outstanding master-planned residential communities; owns, redevelops and manages commercial office complexes; and state-of-the-art retirement living villages. The group currently has fifteen residential projects underway with ten others completed and a healthy project pipeline for future communities.
McCloy’s joint venture partner, The Stevens Group, is one of NSW’s leading private property development companies. They have delivered over 250 quality landmark developments across the property spectrum from land subdivision, residential properties, industrial, retail, commercial and resort living, have received various development awards for developments such as The Vintage and Grand Mercure at The Vintage in the Hunter Valley and are now setting new standards with the Foreshore Development on Lake Macquarie, which has recently commenced.
Image: Shane Boslem, McCloy Group Senior Project Director; John Stevens, Stevens Group Founder & Managing Director; Jeff McCloy, McCloy Group Chairman; Richard Brown, Hydro Aluminium Managing Director meeting onsite at Kurri in Feb.