Old Sydney Town theme park sale unlocks Central Coast megasite
A 120ha megasite home to the Australian Reptile Park and former Old Sydney Town theme park is being offered to the market for the first time in history – representing a significant landbank opportunity on New South Wales’ Central Coast.
06 Feb 2018
CBRE’s Peter Vines, Ben Byford, Victor Sheu and Peter Mangraviti have been appointed to market for sale the expansive landholding at 945 Old Pacific Highway in Somersby – located 8km from Gosford and 77km north of Sydney.
The property comprises five adjoining parcels, including the Australian Reptile Park across 54,000sqm and former Old Sydney Town on 250,000sqm. The remaining 890,000sqm wraps around both sites and is utilised as a primary production farm.
Established in 1948, and operating from the Somersby site since 1996, the Australian Reptile Park is regarded as one of Australia’s most popular animal parks, renowned for its large variety of wildlife.
The Old Sydney Town site is home of the popular theme and open-air museum, which was opened by former Prime Minister Gough Whitlam on Australia Day in 1975. Since closing in 2003, the heritage replicated buildings onsite have been used as an open function event destination and hired privately as movie sets.
CBRE’s Peter Vines said the opportunity to acquire such a substantial footprint in one of New South Wales’ strongest growing regions would attract widespread buyer interest from both local and offshore groups.
“Located at the gateway to the Central Coast – the coastal city of Gosford – this site offers an unprecedented landbank opportunity to secure more than one million square metres of premium land,” Mr Vines said.
“Given its vast size, direct proximity to the Somersby industrial area and future rezone potential, this site could be later developed for a range of outcomes such as rural activities, theme parks, tourism development and residential subdivision.”
The Central Coast is the third largest urban area in New South Wales after Sydney and Newcastle, providing accessibility to the state’s esteemed beaches and coastal lifestyle as well as the Sydney metropolitan region via transport links.
The property is being offered for sale via Expressions of Interest closing March 15, 3pm.
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CBRE Group, Inc. (NYSE:CBG), 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 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 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.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of 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 https://www.cbre.com.