UrbanGrowth NSW has released for sale the largest of its development sites in the fast-growing North Ryde Station precinct. The 1.2-hectare mixed-use ‘superlot’ will form part of Lachlan’s Line, a masterplanned development announced by the government in 2013 as part of the North Ryde Urban Activation Precinct (UAP).
At completion, Lachlan’s Line will provide around 3,000 new homes within 10 minutes of a major train station. It is expected to create 9,000 new jobs during construction from civil and apartment works, and at least 250 onsite jobs in retail and hospitality.
“Macquarie Park is a fast-growing area that is in huge demand due to its access to the university, hospitals, major shopping, and local parks, so we’re expecting strong interest in this land release,” said UrbanGrowth NSW Development Director, Simeon McGovern.
“This is the largest superlot within the precinct and is the only one to include the retail and neighbourhood centre.”
The superlot for sale is the first land release in Lachlan’s Line, and sits at the key corner of the site, bounded by Wicks, Epping and Delhi Roads, and the M2. It has the potential for 860 apartments and a 7,000sqm shopping centre, including a supermarket, specialty stores, cafes and restaurants.
The property is being marketed through CBRE and Matrix Property who will run a local and international expression of interest campaign in early November.
CBRE Director of Residential Development, Matthew Ramsay, said the high demand for apartments within Macquarie Park and the lack of supply made it a highly-prized site. “This is the only superlot within the precinct to include the potential for retail use and it’s at a very strategically located corner, so we can expect extremely strong interest from the market,” he said.
Matrix Property Group Director Andrew Antonas said he expected a hot contest among local and international developers. “This is a trophy site for mixed-use specialists looking to secure unrivalled access to a significant precinct, and to be part of a new vision for Macquarie Park,” he said. Expressions of Interest will close around early December.
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