GROWING THE SOUTH-WEST | 41,000-square-metre footprint is up for grabs

FOR SALE: The Precinct @ Gregory Hills is available for immediate development and comes with an existing development approval for a mixed-use project.
FOR SALE: The Precinct @ Gregory Hills is available for immediate development and comes with an existing development approval for a mixed-use project.

More than 40,000 square metres of developable land in the south-west commercial precinct has been listed for sale.

CBRE’s Peter Vines and Nick Willis have been appointed to sell the landholding within Gregory Hills Corporate Park, a 30ha masterplanned development in the heart of the South-West Growth Corridor and 53 kilometres from Sydney CBD.

The Precinct @ Gregory Hills is now available for development, equipped with an existing DA for a mixed-use project comprising large-format retail premises, food and drink premises and recreation facilities.

Gregory Hills Corporate Park comprises 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 chance to acquire this substantial footprint would lead to strong buyer interest. “Strong population growth and the ongoing anticipation of the Badgerys Creek Airport continue to position the south-west as extremely sought after. It's rare for a landholding of this scale, location and development approval to come on the market, which will fuel strong buyer interest from owner-occupiers and industrial and retail developers.

“Adding to the appeal is the current lack of industrial and large-format retail opportunities for owner-occupiers in the south-west. While the site has an existing DA in place for a large-format retail centre, the flexible B5 zoning, along with the strength of the industrial market, will also attract interest from developers and investors.”

According to Location IQ data, an expected 20,000 homes would be built within a three-kilometre radius of the corporate park over the next five years.

Mr Willis said: “Significant infill retail development sites of this nature are seldom offered to the market, particularly in metropolitan Sydney.

"The catchment is underserviced and needs a superior level of retail development. This precinct is positioned and designed to be the next premier Sydney lifestyle and large-format retail destination.”

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