Mirvac secures 80-hectare site to deliver a brand-new masterplanned community in Sydney’s growing south west

Mirvac has acquired an 80-hectare parcel of zoned land in Cobbitty, Camden, which it plans to turn into a new masterplanned community to respond to the surging demand for new homes in Sydney’s south west.

The property development group secured the south west growth corridor site from Australian property funds and development firm, Roberts Jones.

Colliers agent Frank Oliveri, who was responsible for the deal, said the transaction helped reflect the strength of the residential development site market in Western Sydney.

“This property was highly sought after by both institutional developers and a number of the large home builders in the region.

“Residential lots have increased by over 25% in many parts of the market and developers have paid higher prices to secure land stock in the short to medium term”, Oliveri said.

Adjacent to the existing suburbs of Oran Park and Harrington Grove, the future community is set to deliver approximately 950 land lots from 225sqm to 1,000sqm, playing fields, a future town centre and community facilities, subject to approval.

Located less than 10 kilometres away from Mirvac’s recently completed Crest project at Gledswood Hills, the project will continue the developer’s legacy in south west Sydney, according to head of residential, Stuart Penklis.

“Having successfully delivered Crest, we’re excited to once again be in a position to contribute to Sydney’s rapidly evolving south west corridor”, he said.

“Future residents will relish the picturesque rural aspects of this countryside setting, while benefitting from the adjacent Macarthur Anglican school and other established amenity of Oran Park.”

According to Penklis, land and homes in this area are experiencing strong demand due to significant local infrastructure investment including the new Western Sydney International Airport and Aerotropolis now taking shape.

“Our passion for reimagining urban life and our commitment to best practice design, sustainability and placemaking principles will guide the vision and masterplan for this new community”, he said.

An initial development approval for the first 150 lots is expected to be filed shortly, targeting early activation of the amenity in order to set the foundations for a sustainable, connected community.

The project is expected to be released in mid-2022.