Inghams to sell western Sydney development site
Inghams Enterprises is selling a 4.115 hectare landholding in Sydney's west with the possibility of subdividing up to 80 residential sites.
Ingham’s will take a three-year leaseback over the site, 160-168 Heath Road, with an additional one-year option.
Peter Vines from CBRE said the site was strategically located between the cities of Liverpool and Campbelltown in a surging growth precinct.
"It is governed by favourable R2 and R3 zoning controls, allowing for 55 residential blocks and 25 medium density dwellings subject to planning approvals," he said.
“The sale provides an opportunity to capitalise on the buoyant conditions in the south-west Sydney housing market.
“Leppington has been identified by the NSW Government as a South West Priority Growth Area and is integral to accommodating Sydney’s growing population. The site also benefits from its close proximity to the new Leppington train station and proposed Badgerys Creek airport.”
CBRE’s Frank Oliveri said residential subdivision sites are arguably the most sought after commodity in Western Sydney and very few are presently available for sale.
“This opportunity will be particularly appealing, providing the chance to acquire a future residential development opportunity safeguarded by a short term leaseback, which will help offset planning and holding costs,” he said.
Expressions of Interest close Wednesday 12 April, 2017.
