41000sqm footprint in Sydneys booming South West up for grabs
41,000sqm footprint in Sydney's booming South West up for grabs
| 14 March 2019
CBRE’s Peter Vines and Nick Willis have been appointed to sell a 41,000sqm landholding located within the Gregory Hills Corporate Park – a 30ha master planned development situated in the heart of the South West Growth corridor and only 53km from the Sydney CBD.
The site - The Precinct @ Gregory Hills – is available for immediate development, equipped with an existing DA for a mixed-use project comprising large format retail premises, food and drink premises and recreation facilities.
The Gregory Hills Corporate Park consists of three main precincts; Soma Lifestyle – an approved large format retail centre incorporating leisure and entertainment; Soma Wellness – a completed mixed use medical precinct; and Camden Medical Campus – an approved large-scale private hospital plus a second smaller private paediatric hospital and day surgery.
Mr Vines said the opportunity to acquire a substantial footprint in one of Sydney’s most transformative regions would ignite strong buyer interest.
“Strong population growth and the ongoing anticipation of the Badgerys Creek Airport continue to position South West Sydney as an extremely sought-after region. It is extremely rare for a landholding of this nature – scale, location and development approval – to come the market, which will fuel strong buyer interest from owner occupiers, industrial and retail developers,” Mr Vines said.
“Adding to the appeal of this site is the current lack of industrial and large format retail opportunities for owner occupiers in South West Sydney. While the site has an existing DA in place for a large format retail centre, the flexible B5 zoning, coupled with the strength of the industrial market, will also attract interest from developers and investors that will value in other uses.”
According to Location IQ data, an expected 20,000 dwellings would be built within a three-kilometre radius of the Gregory Hills Corporate Park over the next five years.
Mr Willis commented: “Significant infill retail development sites of this nature are seldom offered to the market, particularly in metropolitan Sydney. The catchment is underserviced and demanding for a superior level of retail development to be delivered. This precinct is positioned and designed to be the next premier Sydney lifestyle and large format retail destination.”
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.