The NSW Government and Sydney Metro have put a 30,000 sqm combined landholding up for sale, in what’s been described as a “once in a generation” opportunity.
The mega parcels surrounding Sydenham station – listed on realcommercial.com.au as Proposed lot 61, 11 Sydenham Road and proposed lots 71 and 72, off Sydney Steel Road – are offered by Colliers’ Trent Gallagher and Michael Crombie.
The lots can be acquired individually or as a whole, comprising of 24,810 sqm, 2,563 sqm, and 4,029 sqm respectively.
The lots comprise of more than 30,000 sqm. Picture: Supplied
It represents the last and largest remaining landholding of this size to be offered in Marrickville, and has been described by the agents as a “once in a lifetime opportunity”.
“This is a genuinely unique offering that we are unlikely to see again in the Marrickville market. Opportunities of this scale simply do not exist in this precinct anymore,” Mr Gallagher said.
“With flexible zoning, immediate metro connectivity and proximity to major infrastructure and retail amenity, the sites will appeal to a broad range of developers, owner occupiers and institutional capital seeking long-term exposure to inner-city industrial land.”
Sydenham station is a major interchange serving both heavy rail and Metro services. Picture: realcommercial.com.au
The land is underpinned by E4 General Industrial Zoning with no height limits, and sits adjacent to Sydenham metro station and Marrickville Metro shopping centre.
Mr Crombie said this offering has strong fundamentals.
“The ability to acquire the parcels individually or combined provides flexibility rarely seen at this scale and we expect strong interest from domestic and offshore capital seeking scarcity-driven value and future optionality,” he said.
The sites are close to Sydenham Station, the airport, and two motorways. Picture: realcommercial.com.au
The agents said it would suit buyers spanning industrial, logistics, strata, self-storage, or those with long-term land banking strategies.
The sites are proximate to the M5 and M8 motorways, Sydney Airport at Mascot, and Port Botany.
The three industrial lots in Marrickville are offered for sale via an expressions of interest campaign, closing 21 April – with undisclosed price expectations.
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Inner-west mixed use lot up for grabs: 30-year first
Colliers also has a 1,261 sqm mixed-use development site for sale at 5 Belmore Street in Burwood.
It has an existing development approval for 49 apartments, nine serviced apartments, and commercial and retail space.
It’s offered by Colliers agents Zhenni Lu, James Cowan and Guy Brady with expressions of interest closing 23 April.
Price expectations are in the early $20 million range, and has been owned by a private investor for more than 30 years.
“With an approved mixed-use scheme already in place, the site provides both planning certainty and flexibility across multiple development models,” Mr Cowan said.
“The ability to deliver residential apartments, serviced apartments and retail or explore alternatives such as build-to-rent, co-living or PBSA [purpose-built student accommodation] makes the opportunity relevant to a broad range of developers in the current market.”
Artist’s impression of the type of development approved at 5 Belmore Street, Burwood. Picture: Supplied
These two listings form another piece in the puzzle of the NSW Government’s appetite in transforming disused industrial sites close to the CBD.
A key project in the area includes the $1.5 billion Timberyards build-to-rent precinct with a target of 10,000 units.
Earlier this month, the state government announced it would unlock Glebe Island to form a new inner-west suburb comprising of 8,500 dwellings, called Bays West.
A computer generated image of what the new Marrickville Timberyards will look like. Picture: Supplied
Numbers crunched by OurTop10 revealed 22,100 could call the new suburb home, and vastly outstrip neighbouring suburbs’ housing development efforts.
Millers Point recorded one dwelling approval, Pyrmont zero, and Balmain just 23 over the past two years.
The three Marrickville industrial sites on offer by Colliers have potential to be rezoned – in addition to boasting no height limits – with the NSW Government’s current run of housing developments.
“There’s been this almost pathological exception to high-rise apartments close to Sydney’s CBD,” Premier Chris Minns said following the news of the Bays West development.
“What ends up happening if you permanently lower the height of apartments… you fill up more space with housing and there is less space for public parks, to have picnics, and public amenity.”