This article is from the Australian Property Journal archive
TELSTRA is looking to offload a former telecommunications centre in north west Sydney, billed as a “blank canvas” for occupiers, developers and investors.
The property at 32 Brookhollow Avenue spans 1,309 sqm of land within the Norwest Business Park precinct that is zoned SP4 Enterprise and could be used for an office, childcare, medical, retail, boutique hotel or light industrial.
Colliers’ Paul McGlynn and Jordan McConnell.
“Located almost directly opposite the Norwest Metro Station and with direct links to the Sydney CBD, the property is situated close to multi-national corporations and organisations, with over 400 companies and businesses,” McGlynn said.
“This is an incredibly rare opportunity of this size and price point as the minimum lot size is typically 8,000 sqm within the business park,” McGlynn said.
Developer Mulpha is planning a $3 billion transformation of Norwest Business Park, set to deliver apartments, retail space and commercial towers.
Transport links also include bus stations and the M7 Motorway.
The property is being offered for sale via on site public auction on Wednesday, 6th March.
In 2018, Telstra began what was a multi-billion dollar selldown of major real estate assets. Among the more recent divestments was the $30 million sale of a 2.3-hectare site in Melbourne’s south east suburb of Clayton, which was picked up by nearby Monash University.
The selldown has also included a data centre – also in Clayton – for $416.7 million, and the establishment and part sale of the unlisted property trust of 37 properties valued at $1.43 billion, in which Charter Hall took a 49% share, Part of that sell-off included the Edison Exchange building in Brisbane, for $57 million to Singaporean group Firmus Capital.
