Eight Castle Hill residents sell mega site
Eight detached homes have sold in Sydney's northwestern suburb of Castle Hill to a local developer for around $40 million.
The site, named 'Premier', on Middleton Avenue, Fishburn Crescent and Sexton Avenue, is sized 7,545sqm and has a residential zoning allowing a potential development height of up to 40 metres and high density residential development of up to 250 units.
CBRE's Richard Gell said the site’s position in Sydney’s bourgeoning north-west was a key selling factor.
“The Castle Hill residential apartment market continues to perform well, so we expected to see significant interest in Premier," he said.
"Strong sales prices and sale rates have recently been achieved for off the plan apartment sales due to low supply levels.
“Castle Hill’s proximity to the Norwest Business Park, Castle Towers shopping centre, reputable schools and transport hubs makes for a strong residential market and as a result – a secure investment opportunity for the purchaser.”
Development of the nearby Showground Station precinct is slated for completion late 2018 and feature the Showground train station, residential apartments, shops, cafes and office buildings.
Property Observer found a house sold in 2015, 90 Fisher Crescent, Castle Hill (below) for $1,280,000. The four bedroom home is on 936sqm.
The three bedroom home at 7 Sexton Avenue, Castle Hill sold in 2015 for $2.3 million (below). It is in the Showground/Carrington Road Activation Precinct.
