This article is from the Australian Property Journal archive
DEVELOPER and construction group Deicorp has snapped up a 2,060sqm development site at Petersham in Sydney’s inner south-west, for $13.8 million.
TGC director Scot Robertson acted as buyers advocate for Deicorp in the purchase of the 297-309 Trafalgar St property. The vendor was ES McCallum Holdings Pty Ltd.
The site was purchased with three older style factories over four parcels of land, which will make way for a slated apartment development of around 83 units, reflecting a price of $166,265 per unit. The land rate was $6,700 per sqm.
Deicorp last week entered into a joint venture partnership with Petersham RSL to redevelop all of its Petersham property holdings, following an EOI campaign to find a development partner.
The Petersham RSL of 3,360sqm is next door to the Trafalgar St site, creating a potential total developable land parcel of 5,441sqm with three St frontages in an arrow-shape with northerly aspect.
The club’s Petersham holdings will be the subject of a new masterplan, including the current club premises at 3-7 Regent St, on a site of 3,028sqm, 13-17 Regent St, of 1,960sqm, and 287-295 Trafalgar St, next door to the McCallum site; plus three terraces in Fisher St comprising 652sqm and totalling 7,717sqm, or 9,777sqm including the latest acquisition.
Robertson said a pre-development approval plan, including a brand new club facility, car parking and integrated residential precinct had recently been lodged with Marrickville Council, but with the recent amalgamation of Marrickville, Leichhardt and Ashfield council it will need to be assessed by the new Inner West Council as one of their first “State Significant” projects.
Australian Property Journal
