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Generational development site in Five Dock listed for sale

Five Dock Hero

With over three hectares of land, the site is considered the largest opportunity ever to be offered to the open market in Sydney’s Inner West.

One of Sydney’s largest mixed use development sites has been listed for sale via Colliers’ agents James Cowan, Matthew Meynell and Trent Gallagher.

This asset is considered the largest opportunity ever to be offered to the open market in the Inner West and accordingly is expected to generate comprehensive national and international interest.

The property has been amalgamated by the current owners over a 20-plus year period, and most recently has benefitted from a council led planning proposal to rezone the land from industrial uses to B4 Mixed Use, with a 3:1 floor space ratio and building heights of up to 67 metres.

Occupying an impressive 3 hectare-plus site, the development is expected to yield >90,000sqm of gross floor area, which early planning suggests could be as much as 1,000 apartments and a shopping precinct.

The property will be just a 10-minute walk to both the Burwood North and Five Dock future Metro Stations that will link the finished product to the Sydney CBD in 10 minutes and to Parramatta in 15 minutes.

“Our recent experience in marketing significant, generational, assets such as Kings Bay Village has demonstrated the vast depth of capital seeking bulk and scale. For example, with the recent Colliers sale campaign of 130 Joynton Avenue, Zetland, there was significant domestic and international interest chasing this asset. South Sydney and the Inner West are land constrained markets with very few scalable sites left in these precincts, which is creating high demand for the few remaining sites, such as Five Dock, as developers know these types of opportunities are irreplaceable” Trent Gallagher, National Director at Colliers said.

“We have seen a considerable uptick in enquiry from large off-shore developers and institutional developers working on the thematic that the combination of inbound skilled migration overlayed by the considerable undersupply of stock by 2024 will drive pricing escalations,” Matthew Meynell, Head of Investment Services Australia added.

“The median apartment price in Five Dock is $969,000, whilst the median house price is $2,500,000, meaning the average house is 62 per cent more expensive than the average apartment. With the low level of completions throughout 2020 and 2021, there is an alarming undersupply of apartment stock in this location which is a concern due to the affordability crisis that freehold dwelling prices have created. We expect developers will take this into consideration when master planning this supersite,” continued James Cowan, Director at Colliers.

The property will be sold via an on-market expressions of interest campaign closing late May, 2022.

Key features:

  • Impressive 3ha+ site area with extensive 190m x 170m street frontages
  • Proposed B4 Mixed Use rezoning with 3:1 floor space ratio and 67 metre height limit
  • Potential to yield 90,000m2+ of GFA
  • Gazettal expected Q4 2022
  • 600m to the Future Burwood North Metro Station & 900m to the Future Five Dock Metro Station
  • Opposite 10ha of public parkland and adjacent to Rosebank College
  • Immediate access to major arterial roads including Parramatta Road, M4 Motorway and recent WestConnex Upgrades including the Wattle Street M4-M5 Link

Related Experts

James Cowan

Director | Investment Services

Sydney

I am a Director within the Sydney Investment Services team & NSW Team Leader of the Restructuring Property Services business at Colliers International,  focusing heavily on the City Fringe & Inner Western Suburbs selling a wide range of varying asset classes.

Prior to my five years at Colliers International, I was honing in on my analytical skills for four years as a commercial property valuer at Savills Australia focussing on premium quality investments across multiple disciplines. Combining these analytical skills with good communication skills and determination, I bring a wealth of experience and strategy for both my colleagues and clients alike

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Matthew Meynell

Head of Investment Services | Australia

Sydney

As the Head of Australia’s largest investment sales team, Matthew drives industry leading initiatives across Middle Market Office assets, Offshore capital, complex workout solutions in the Restructuring and Insolvency space and is proudly backed by a team of over 80 professionals at the forefront of the industry.

Matthew’s investment into relationships sees him deliver revenue, exceptional results and always exceed his client’s expectations. By doing what’s right for the team, the greater Colliers business and his clients, he has established himself as an exceptional leader within the business and the property industry.

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Trent Gallagher

National Director, Property Sales & Leasing | Industrial

Sydney South

Trent has been in the real estate industry for over 14 years and in that time, he has thrived in this competitive industry and established himself as one of the most highly esteemed agents within the industry. He has honed his skills in varied markets whilst specialising in commercial and industrial properties from which he has gained immense property knowledge. Since coming to Colliers International, he has excelled across the property spectrum and has become known for his hard work becoming the leading agent in the Sutherland Shire, St George, South Sydney, South West and the Inner West markets.

Trent has been involved in some of Sydney’s most notable sale transactions which includes the old Toyota HQ at 13 Endeavour Road, Caringbah and the Qantas investment and land portfolio at Mascot. Trent has also been involved in some of Sydney’s most notable industrial and commercial leases along with notable pre-lease transactions which includes the new 18,000m Harvey Norman warehouse at Casula.

Trent continues to endeavour to be at the forefront of the industry with innovative methods in canvassing, marketing and strategic sales. He strives to actualize the goals of his vendors and work hand in hand with prospective purchasers to ensure all parties achieve the best result efficiently.

Trent takes personal pride in his responsibilities to his clients and delivering service excellence across a variety of situations with his experience and knowledge to recognise and assess any industrial, commercial, retail or residential development site requirement. His assembly of long term clients is a testament to his commitment to his work and ensuring he delivers the best result every time.

 

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