Apartment opportunity in one of Sydneys proven growth areas
Apartment opportunity in one of Sydney's proven growth areas
| 5 December 2016
A Wolli Creek landholding with significant development potential has recently been offered to the market, unlocking 1,004sqm of prime land in one of Sydney’s developing residential regions.
Located at 7 – 9 Gertrude Street, the site is centrally positioned within close proximity of public transportation amenities including Wolli Creek Train Station, major retail outlets, prominent arterial roads such as Princes Highway, newly established parklands and Sydney Airport.
The site benefits from development approval for 36 luxury apartments, with a mix of studio, one, two and three bedroom units. The approved nine-storey residential development, which has been designed by international architects Marchese Partners, features single level basement parking, landscape garden and a rooftop terrace/ BBQ area. Upper levels will benefit from water and park views.
Xavier Rahme, Simon Lytton and Jessen O’Sullivan of CBRE’s Metropolitan Investments and Development Sites team are negotiating the sale, with strong interest expected from a range of local, national and international developers.
“The Wolli Creek residential apartment market continues to perform well, with developers experiencing high sales rates and increasing values with relatively low levels of both existing stock and future supply,” said Mr Lytton.
“The strength in this market has been underpinned by a growing demand for apartment accommodation close to employment centres and transport hubs, which should encourage a competitive sales campaign,” Mr Rahme added.
The site will be sold via an Expressions of Interest Campaign concluding Tuesday, 13 December at 5pm.
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CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.