Shanghai Developer Files $1.1bn Penrith Masterplan

A Shanghai-based developer has lodged plans for a $1.1-billion community on the former site of Australia’s last TV manufacturing plant.

The SHMH Group Australia, the parent company of which is SHMH Real Estate Group—one of the top-50 property developers in Shanghai—is moving its plans for The Beacons ahead.

It has submitted its concept masterplan for nearly 2000 apartments to Penrith City Council, to be decided by the Sydney Western City Planning Panel.