This article is from the Australian Property Journal archive
A 6.22-hectare landholding made up of three separate lots in Sydney’s north-western suburb of Kellyville has hit the market with expectations of fetching more than $20 million.
Zoned R2 Low Density Residential and E4 Environmental Living, the Saltwater Crescent property has an elevated position overlooking bushland and the surrounding Cattai Creek district. The lots range in size from 6,643 sqm to 20,650 sqm.
CBRE’s Alex Mirzaian and Ben Wicks are marketing the property via expressions of interest, closing June 7, on behalf of Deerubbin Aboriginal Land Council.
Mirzaian said the property represented one of the last opportunities to acquire such a large development site in north-west Sydney.
“With slower growth trajectory across Western Sydney, we have seen a shift in demand from apartment sites to home and land projects, such as this,” he said. “Tightening in the lending market has seen developers diversifying into new land projects for quicker and more secure turnover.”
Australian Property Journal
