Construction is officially underway on the $350 million AUD Putney Wharf development in Sydney’s northwest. The project marks a major milestone for the mixed-use waterfront area.
Partners Abadeen and PERIFA (part of Versatile Group), along with Phoenix Property Investors and Mitsubishi Estate Asia, gathered to celebrate the beginning of construction on the project located on the historic Halvorsen’s Boatshed site.
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Landmark development on Sydney Harbour
The 300-metre waterfrontage is located 14 kilometres from Sydney’s CBD and will deliver 67 residences including apartments and townhouses, alongside waterfront dining, retail offerings and a 36-berth marina.
The project’s location at 20 Waterview Street connects directly to Putney’s scenic harbourfront and offers residents direct access to a private harbour beach.
Versatile Group’s Chairman and CEO Marco Fahd described the development as a flagship project for the company in Australia. “As one of the most transformative and significant waterfront projects in Sydney, we are beyond honoured that our construction arm, Versatile Construction, will be responsible for the successful delivery of this project.”
“We understand the historical significance of the site, and we’re incredibly proud to be breathing new life into it while celebrating its heritage. We'll be preserving the original timber structure of the Halvorsen Boat Shed and reinterpreting the iconic facade. There'll also be beautiful artworks and glimpses of the past throughout the precinct,” Fahd added.
Construction is being handled by Versatile Construction, with project completion scheduled for early 2027.
Sales momentum and residential offerings
The project has secured $170 million AUD in apartment sales so far, with the initial launch nearly sold out. Future releases of townhouses and additional residences are expected later in 2025.
Putney Wharf will feature three residential components:
- Halvorsen’s Apartments: A heritage restoration comprising 19 oversized residences (17 three-bedroom and two four-bedroom).
- Waterview Terraces: Eighteen three-storey, four-bedroom townhouses on Waterview Street.
- The Residences: Two new three-storey buildings offering a total of 30 units, a mix of two-bedroom and three-bedroom homes.
Nearly 50% of The Residences have been sold, with all two-bedroom units taken. Three-bedroom apartments begin at $3.9 million AUD, while four-bedroom terraces are set to launch in late 2025 from $4.5 million AUD. A single 246 square-metre four-bedroom penthouse remains in the heritage-restored Halvorsen’s Apartments, which offers panoramic 180-degree harbour views.
Creating a community-focused waterfront project
PERIFA Managing Director and Co-Founder Fabrizio Perilli said the partners are proud to deliver a landmark waterfront project for the community. “We are committed to delivering a truly exemplary residential waterfront precinct for future homeowners, marina berth owners and the local community,” Perilli said.
Joe Tack, CEO of Abadeen, expressed gratitude to the JV partners, consultants and stakeholders involved in the planning and execution. “Putney Wharf is already having a transformative impact on the suburb of Putney. We have received particularly positive feedback from the local community and beyond. There is strong excitement and anticipation for what is to come,” Tack said.
The ceremony opened with a traditional Welcome to Country and was attended by City of Ryde Mayor Trenton Brown. Tack also expressed gratitude to the mayor: “We would also like to extend our sincere thanks to Mayor Trenton Brown and the City of Ryde for their ongoing support.”
Designed by Sydney-based architects SJB, with heritage consultancy from Curio Projects and landscaping by Dangar Barin Smith, the project includes modern lifestyle with historical reverence.
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