This article is from the Australian Property Journal archive
PACIFICA Gosford has been sold with the masterplan-approved property set to play a major role in the revitalisation of Gosford’s CBD.
It is set to become the largest concept-approved, mixed use development site on the Central Coast with plans for five towers to sit above retail and commercial podiums, with an end value of $345 million.
Pacifica Gosford was sold via an expression of interest campaign, which launched in early 2022.
The property is comprised of a 1.42 hectare landholding in the heart of Gosford’s CBD at 136-148 Donnison Street. The site has masterplan approval for a maximum of 72,782 square metres of Gross Floor Area, with two levels of basement parking in addition to the five towers as part of Stage One.
Jon Chomley and Eugene White of Colliers, handled the transaction on behalf Lederer Group, for an undisclosed price.
Lederer acquired the site nine years ago for $13 million.
“Pacifica Gosford is a remarkable central city, development approved site capable of accommodating over 700 residential apartments with additional commercial and retail space and parking for over 1,000 cars,” Chomley said.
“With four street frontages and a design that enables the staged development of up to five towers, this is a truly irreplaceable development site.”
Pacifica Gosford is just 500 metres from the Gosford railway station and is located directly across from the recently upgraded Kibble Park and the Imperial Shopping Centre.
With a number of people transitioning from Sydney to the Central Coast, Eugene White says that the new site matches Gosford’s influx of new residents.
“Located in a coastal location and only an hour from Sydney CBD, Gosford has been the beneficiary of the sea change movement from Sydney, with uplift in new residents over the last two years. It is also a highly sought after retirement area with older residents benefitting from the extensive medical and care services in the region,” White added.
Stage one of the plan is set to use 5422 square metres of retail and commercial gross floor area along with recreation spaces and a pedestrian link to the precinct. With multiple stages in this development, the ends of the property could have any number of potential uses such as student accommodation or residential apartments.
