Waterside is a $180m proposal by Chinese businessman, Jian Wang. It will feature three towers, graduating from 26 storeys to 34 storeys with residential units, hotel rooms, retail outlets, restaurants and an open-plan walk-through area connecting the city centre to the Gosford waterfront.

Demolition on the L-shaped block, which stretches through to Baker Street and Georgina Terrace is expected to commence next month.

Mr Wang, of the New Hong Kong Macau Group Australia, moved his family to Sydney five years ago, with the intention to make the Central Coast his permanent home.

Gosford became Mr Wang’s ideal development site after several small trips to Sydney with a vision for a residential, retail, office and hotel showpiece development which will be the first thing visitors see as they approach Gosford from the Brian McGowan Bridge.

“I felt there was a great deal of potential to invest in Gosford,” he said through an interpreter.

The area is underdeveloped in that there is a high demand for apartments and the infrastructure is already in place.

“It is the perfect location with its beautiful waterways and major facilities close at hand.

“It has everything from water to trees to mountains and beaches nearby – that is why so many people want to relocate here.”

New Hong Kong Macau Group Australia is active in acquiring sites at key strategic locations and resolute in creating premium quality developments and engage with experienced, top-tier consultants and contractors.

Waterside is expected to occupy a 8500sp m site and provide:

• 60 hotel rooms

• 570 home units

• 47% of the site as open space for public use

• Commercial, retail, food and entertainment tenancies which could include a boutique theatre?