Synergy North

Killara, New South Wales

Sector:                      Residential Apartments

Client:                       Sakkara Developments

Current Status:         Complete

Project Value:           in excess of $29 Million

Synergy North is located 15 kilometres from the CBD of Sydney in the leafy suburb of Killara. The development includes 49 luxury appointed apartments comprising of one, two and three bedroom apartments, five penthouse style apartments, underground parking and extensive landscaped gardens.

MERDEN Projects was engaged as Construction Managers on behalf of Sakkara Developments and to assist with funding by the Commonwealth Bank of Australia for the Project. This service included the provision of programming reviews and recommendations, monitoring of expenditure, review of design and construction, progress reporting, tendering of subcontractors, administration of all subcontracting trades, variation analysis of subcontractors, monthly financial draw downs, project and construction risk analysis

As additional part of the Construction Management services MERDEN Projects provided to the Sakkara Developments and Commonwealth Bank of Australia was the inspections of the completed apartment product against the Developer's Land Sale Contracts and the reporting of any non-compliance, if any.

The Project was successfully completed with all Pre-Sales settled and the Senior Debt repaid to the Commonwealth Bank of Australia within the required parameters contained in the Senior Debt Finance Facility, and Sakkara Developments making their profit.