Stockland add 184 hectares at Marsden Park
Stockland has agreed to acquire 184 hectares of land in Marsden Park, the heart of Sydney’s strong north west growth centre, for $398 million on deferred terms over five years.
The site is located on the northern side of Richmond Road within the North West Priority Growth Area.
The agreement, which is conditional on land rezoning and additional terms, gives Stockland exclusive rights over prime land adjacent to Stockland’s existing Marsden Park masterplanned community, Elara.
Subject to rezoning, this acquisition will allow the development of approximately 2,000 new residential lots.
Stockland’s CEO Mark Steinert said Stockland has over $6 billion invested across NSW, with over half of this in western Sydney where 50 per cent of its sales are to first home buyers.
Stockland’s Group Executive and CEO, Residential Andrew Whitson said Marsden Park is one of Sydney’s fastest growing areas adding Elara ranked as one of its most successful residential developments.
“The area is fast becoming an employment hub with an existing large commercial precinct on Richmond Road and the nearby Sydney Business Park, which is estimated to provide more than 13,000 jobs, just three kilometres from Riverstone train station and the potential future rail extension to the airport."
Located just 15 minutes from Blacktown’s centre, Stockland’s existing Elara community is currently home to more than 1,000 people and on completion will include close to 4,000 homes, more than 10,000 residents, a town centre, several playgrounds, a community centre, sports fields, childcare centre and schools.
