A strategically located mixed use retail and commercial development site in the heart of south-west Sydney’s Leppington Town Centre has come to market and is expected to draw strong interest from developers.
The 20 hectare site is surrounded by new and planned residential developments, which over the next 20 years will house in excess of 300,000 people with a potential for up 110,000 new dwellings.
“In recent times, the Sydney South West property market has experienced strong demand from developers and investors looking for development sites in this new priority growth area,” said selling agent, Harry Bui of Colliers International. “The stronger demand comes on the back of the recent successful transaction of the South Western Sydney Portfolio on behalf of Urban Growth NSW for a record price of over $500 million.”
Fab Dalfonso of Colliers International said the Urban Growth portfolio consisted of three residential englobo land parcels which collectively spanned approximately 4,123 lots over 500 ha. Offered as a portfolio the properties were sold separately with a Chinese developer, Dahua, securing Edmondson Park and Menangle Park, whilst AV Jennings purchased Spring Farm.
The Leppington site, located at 127-163 Rickard Rd and 116 Dickson Rd, and is only 300 metres from Leppington Train Station, with Badgerys’s Creek Airport also within close proximity. It also has good access to the M5 and M7 Motorways.
The site is expected to yield just over 150,000m2 GFA of residential and commercial/retail.
The site will be sold by Harry Bui, Fab Dalfonso and Joe Sacco of Colliers International. The property is for sale by International Expressions of Interest closing on 5th May at 4pm (AEST).