Michael Akkawi is the founder and CEO of Conquest, an Australian private equity real estate firm that has amassed $2 billion in assets to date. Under Mr Akkawi’s leadership Conquest has expanded globally, launching operations in London, with plans to expand into additional territories.
This article will look at Conquest’s groundbreaking Queensbridge project on Sydney’s North Shore, a $250 million redevelopment that will see the landscape transformed, culminating in the creation of a vibrant dining, retail and lifestyle precinct.
Conquest’s project will see the tired village reimagined as a modern hub, with the addition of luxury residences above that will be known as ‘100 Edinburgh’. The project is one of the most exciting developments to be undertaken in Sydney in recent memory, not just in terms of scale but also in terms of the legacy it builds upon. For decades, the development site was owned by Greencliff founder Dr Stanley Quek. A medical doctor turned philanthropist and real estate developer, Dr Quek is known for his commitment to architectural integrity and long-standing connection with Castlecrag. His decision to sell the site of the Quadrangle Shopping Centre was more than merely transactional: it was personal.
Acquired by Greencliff in 2016, the 5,200 square metre Castlecrag site is set to be redeveloped, replacing the existing shopping centre with premium retail offerings, a new supermarket and a collection of high-end apartments. Approval for the development was granted in December 2024, following extensive community consultation. The redevelopment will bring much-needed regeneration to the local area while maintaining the village feel and unique character of Castlecrag.
Designed in the 1920s by Marion Mahony Griffin and Walter Burley Griffin, Castlecrag is renowned for its character, with a heavy emphasis on community and sympathy towards the natural environs. Opened in 1978, the Quadrangle Village Shopping Centre became known as ‘the Gateway to Castlecrag’ owing to its prominent position at the suburb’s entry.
Reflecting on the plans, Michael Akkawi, Conquest CEO, highlighted the potential of the acquisition as a generational investment, redefining Sydney’s North Shore for decades to come while upholding and enhancing what Dr Quek envisioned for the site. Set in one of the Sydney’s most architecturally important suburbs, Castlecrag is renowned for its sense of community and deep respect for nature. Conquest’s development plans aim to preserve that spirit while simultaneously ushering in a new era of design and sophistication for modern living.
With construction due to commence in coming the weeks and an on-site experience centre opening soon to the public, the mixed-use redevelopment will see the creation of a contemporary dining and retail destination attracting boutique retail and premium food, beverage and wellness brands. In a market driven by rapid turnovers and short-term wins, Conquest’s bold move in Castlecrag stands out for its long-game philosophy, combining a rare blend of place-making, patience and vision.
With holdings in Australia and the UK, Conquest has been delivering institutional real estate across the three core sectors of retail, hotels and residential for over two decades. Strategically positioned to capitalise on opportunities in both commercial and residential markets, the company has grown its portfolio to $1.8 billion in assets under management, today collaborating with institutional capital to unlock opportunities across its core markets.
By leveraging the expertise of its subsidiaries, Conquest achieves seamless project execution, enhancing efficiency and maximising long-term performance through its expert control of key aspects of the investment lifecycle. Operating with a keen focus on creating long-term value, Conquest’s strength lies in its strategic investment model, which seamlessly integrates asset optimisation, capital deployment and risk-mitigated execution to achieve sustainable, high-yield returns.