This article is from the Australian Property Journal archive
A 80,910 sqm block with a DA approval in place for 175 lots in Western Sydney has hit the market with expectations exceeding $40 million.
The property at 26-28 Kelly Street and 275-280 Eighth Avenue in Austral, around 42km out from the CBD, covers four titles across three DA approved subdivision sites and is zoned R2 Low Density Residential and R3 Medium Density Residential.
Joe Sacco and Frank Oliveri from Colliers have been exclusively appointed to manage the sale of the development opportunity via an expressions of interest campaign, with expectations in the low-to-mid $40 million range.
“This is an extraordinary opportunity for developers to acquire a significant approved site, as seldomly do DA approved land subdivision sites in major growth locations come to the market,” said Sacco.
“Across 80,910 sqm within the Liverpool City Council area, the property is situated in Austral which is part of the South-West Growth Centre which is expected to deliver approximately 17,500 dwellings and cater to approximately 54,000 residents in a rapidly growing community.”
The property sits 5km out from Leppington Station, which provides access to the Liverpool CBD, Parramatta CBD and the Sydney CBD. It is also ready for residential living, with a number of private and public schools within the suburb.
Additionally, the site sits amongst some of the most significant infrastructure projects in the country, including Western Sydney Airport and Western Sydney Aerotropolis.
“The property presents an opportunity to capitalise on a strategic location, connected amenities, ongoing infrastructure development and surrounding economic growth,” said Oliveri.
The expressions of interest campaign for 26-28 Kelly Street and 275-280 Eighth Avenue, Austral is scheduled to close on 24 July 2024.
