The Alto Group to sell 6,063sqm residential site at 888 Pacific Highway Gordon.
The Upper North Shore looks set to remain one of Sydney’s most desirable locales, with a unique mixed use retail and residential development site hitting the market, with an expected price guide of over $35 million.
888 Pacific Highway, Gordon represents a rare opportunity to purchase a DA approved development site in the tightly held, exclusive and high end Upper North Shore market.
Located approximately 15 kilometres north of the Sydney CBD, Gordon is an established residential suburb with a village type atmosphere. For sale through Guillaume Volz and Zhenni Lu of Colliers International and Bill Geroulis and Rick Sombroek of Shead Property, on behalf of The Alto Group, the site comprises three separate lots extending to a total site area of 6,063sqm.
According to Guillaume Volz, National Director, Development Sites, Residential for Colliers International, the proposal is to redevelop the site to accommodate 144 new residential dwellings and 730sqm retail space.
“Whilst a lot of development activity has focused on mass scale opportunities in new urban activation areas, Sydney’s traditional apartment markets haven’t felt the planning changes and in many circumstances continue to be under supplied.”
“Sydney’s Upper North Shore has not seen the same level of activity as say, Macquarie Park, particularly around the university and now is a great time to showcase the prestigious Upper North Shore and not have thousands of competing apartments on your doorstep” he said.
The property is walking distance to Gordon Railway Station and the Gordon town centre, home to many cafes, restaurants, retail stores and shops providing a relaxed living environment with its affluent local culture that generates a high level of interest from young families and downsizers.
Furthermore, the convenient location offers access to multiple bus services that run along Pacific Highway providing regular services to Macquarie University, Chatswood and the Sydney CBD. With educational facilities scattered throughout the area including Pymble Ladies College, Gordon East Public, Ravenswood School for Girls, Killara High School and Knox Grammar School; the property ticks all the boxes for developers and apartment buyers.
According to Bill Geroulis, Principal at Shead Property, Gordon is receiving ample attention from council, with the “Activate Gordon” campaign, which is part of the Activate Ku-ring-gai initiative, designed to revitalise the Gordon local centre and create a vibrant space for local residents and visitors.
“Ku-ring-gai Council is exploring opportunities to develop a cultural and civic hub in Gordon Town Centre. The proposed “hub” site will be at 828 Pacific Highway, which are the current Ku-ring-gai Council’s administrative offices, and just only 300 metres from 888 Pacific Highway” he said.
Mr Volz went on to say that “apartment buyers are seeing the value in these traditional housing suburbs and recognise the true amenity and lifestyle on offer.”
888 Pacific Highway Gordon is for sale through Colliers International and Shead Property via an Expressions of Interest campaign, closing 8 September 2016.