This article is from the Australian Property Journal archive
DEVELOPER WST Property Group has acquired 31 hectares of land in Box Hill, in the heart of Sydney’s north west growth corridor, from the McCall Foundation which listed the property in August with hopes of fetching more than $200 million to “future proof” its work.
The parcel at 10-32 Terry Road, 42 kilometres north west of the CBD, forms part of the McCall Gardens facility that has provided accommodation and community facilities for people with disability for nearly 70 years.
The Foundation will retain 4.74 hectares of land for its existing community facilities and operations.
“This is an exciting opportunity for WST to develop quality dwellings for Sydney’s north west and to deliver our vision of quality for our customers via master-planned communities,” said WST Property Group’s managing director, Krenalin Moodley.
“The north west is thriving and we believe this project provides a wonderful opportunity for first home buyers and families looking to purchase their own homes.”
Box Hill’s population is currently 2,136 and will leap to more than 23,500 by 2036, according to forecast.id.
The Terry Road site is adjacent to the new Box Hill city centre and located a short drive from the Hills of Carmel Shopping Village, and is direct proximity to a wealth of public and private healthcare. Rouse Hill Metro and Tallawong Metro stations are located within easy reach of the project, with both stations connecting to the existing Epping to Chatswood railway line, with an extension to the CBD expected to be complete by 2024.
Knight Frank’s Grant Bulpett, who managed the sale with colleague Mark Litwin, said the land was one of the largest remaining residential development parcels in north western Sydney.
“The sale result underlines the value of Northwestern Sydney as a strong and diverse community and a great place to live, with Box Hill a key emerging precinct with incoming amenities including a hospital and educational facilities.”
Interest came from local, national and international buyers, including from private family offices in Singapore.
Litwin said the sale demonstrates there is buyer interest in larger residential sites, particularly given “there is still a chronic housing undersupply in Sydney which will lead to stronger demand for homes in the future”.
Sydney’s major districts will struggle to deliver on their 2026 targets of housing additions, analysis from the Property Council of Australia and Gyde Consulting shows.
WST Property Group has a current development pipeline ranging from light industrial to business park and greenfield residential to retail town centres. In July, it picked up 240 hectares of land in the Hunter Valley for the Mount View Grange master planned community that will deliver more than 1,650 homes.
