Box Hill Property

02/02/2026

As reported in The Australian this week:

• Major private credit lender Alceon has ended its lending relationship with Sydney property developer Bathla Group, a company that has grown rapidly through private credit financing over many years.

• Alceon had close to A$670 million in exposure to Bathla Group — if all facilities were fully drawn — but it reduced this exposure to zero by December 2025 as various loans and facilities matured or were refinanced by other lenders.

• The decision reflects rising concerns within the private credit market about Bathla’s debt levels and risk profile. Alceon chose not to renew or extend its financing at existing terms and instead allowed its facilities to roll off, effectively ending the decade-long lending relationship.

Rising risks at major Sydney home builder Bathla Group sparked an end to a 10-year relationship with private credit lenders Alceon, leading to a scramble to secure more funding to bolster the developer’s $2.6bn debt pile.

26/06/2025

Sydney’s Bathla juggles dozens of property projects and a $2.7b debt

A major real estate developer in Sydney’s western suburbs owes more than $2.7 billion but has just $6.5 million in the bank, new disclosures show.

Bathla Group, once known as Universal Property, mostly builds large housing estates and townhouses, and targets its marketing at new migrants. The company is building hundreds of units in Cabramatta, for instance, in a project that is expected to cost hundreds of millions of dollars.

But the Bathla’s true financial position is revealed in accounts filed with the Australian Securities and Investments Commission last Friday after The Australian Financial Review raised questions about their late disclosure.

The accounts show a cash balance of $6.5 million on June 30, with borrowings of $2.7 billion. Bathla Group has net assets of $430 million.

Among the company’s assets are $209 million of units completed and up for sale, $191 million deposits and $1.5 billion of work that is “in progress”. There is also a land bank that Bathla Group has valued at $1.3 billion.

Read more here:

https://www.afr.com/property/commercial/sydney-s-bathla-juggles-dozens-of-property-projects-and-a-2-7b-debt-20250617-p5m840

Box Hill City Centre

The major real estate developer, once known as Universal Property, has borrowed from the country’s biggest private credit firms, and owes one $600 million.

17/10/2024

Box Hill City Centre development site has finally sold!

https://www.realcommercial.com.au/sold/property-29-31-terry-road-box-hill-nsw-2765-504416992

22/12/2023

There has been a huge amount of interest from developers in snapping up the Box Hill City Centre site at 29-31 Terry Road Box Hill which has been put on the market by receivers after the collapse of Toplace.
The 4.3ha site is being sold by Frank Knight and CBRE on behalf of Toplace receivers FTI consulting. The closing date for expression of interest this Tuesday, October 11th at 4pm.

There has been a huge amount of interest from developers in snapping up the Box Hill City Centre site at 29-31 Terry Road Box Hill

14/09/2023

One of beleaguered developer Toplace Group’s sites, in Sydney’s Hills District, has come to market.

The 4.3ha site at Box Hill, about 48km north-west of the Sydney CBD, has approval for a a 22,843sq m shopping centre and 660 apartments.

A site in Sydney’s north-west held by Toplace Group is for sale as the fall-out from its voluntary administration continues…

09/12/2022

Sydney developer of Box Hill Town Centre has building licence revoked...

Controversial property developer Jean Nassif has been suspended from holding a building licence in NSW for 10 years, while the building licence of his company, Toplace, has been permanently revoked.

The investigation found more than 40 defects in residential developments constructed by Toplace: the Atmosphere and Skyview developments at Castle Hill in Sydney's north-west; and the Vicinity building in the inner west suburb of Canterbury.

Stripping Toplace of its building licence could have ramifications for the construction of a commercial centre it has underway in Box Hill in Sydney's north-west, and, more than 1,000 apartments across other developments.

However, the developer intends to engage a separate building company to ensure construction continues while it continues to act as the developer.

Controversial property developer Jean Nassif has been suspended from holding a building licence in NSW for 10 years, while the building licence of his company, Toplace, has been permanently revoked.

19/05/2022

Bhart Bhushan’s Bathla Group has filed plans for a $19-million residential tower in Box Hill, north-west of Sydney.

The 4051sq m site at 1 Alan Street is just off Windsor Road, on the corner of Terry Road and Alan Street. Box Hill City Centre

Bhart Bhushan’s Bathla Group has filed plans for a $19-million residential tower in Box Hill, north-west of Sydney. The 4051sq m site at 1 Alan Street is just off Windsor Road, on the corner of Terry Road and Alan Street.

19/05/2022

A new 600-plus apartment development is heading for the heart of Sydney's Box Hill.

The prominent Western Sydney property developer, Bathla Group, is set to create 637 apartments across eight low to mid-rise buildings at 34 Terry Road, which have been designed by WMK Architecture to suit the needs of the future community and to cater for a wide cross section of buyers.. Box Hill City Centre

A new 600-plus apartment development is heading for the heart of Sydney's Box Hill.

31/10/2021

13 Mason Road Box Hill is positioned immediately next to the future Box Hill City Centre. The land has been cleared. Next is de-watering the dam and filling it in for a future road. 🚘 Initial development is for a hundred apartments. 🏢

25/09/2021

The house and pool at 13 Mason Rd have been removed to make way for apartments. 🏗 this property immediately borders the future town centre. Next step is dewartering and filling in the dam so the new road can be constructed. 🚘

19/09/2021

Santa Sophia Catholic school in The Gables 🏫 🎓

18/09/2021

The town houses are going up quick on corner of Terry Rd and Hynds Rd Box Hill. 🏘🏘🏗