Colliers are pleased to present 40 and Lot 2 of 42-50 Eleventh Avenue, Austral, “40-50 Eleventh Avenue” to the market for sale via Expression of Interest.
This presents the opportunity to secure a development site in the rapidly growing South West Sydney region, propelled by vast amounts of government infrastructure investment such as the Western Sydney International Airport (12km*).
40-50 Eleventh Avenue entails two rectangular blocks of land located in the heart of Austral, within very close proximity to the main neighbourhood centre and neighbouring active residential development. 40 Eleventh Avenue is DA Approved for 25 residential lots. 42-50 Eleventh Avenue has DA lodged for the torrens title subdivision into 17 residential lots and 3 residue lots (Lot 2). It comes with price expectations of $13 million-plus.
The total site area is 5.64 Acres (22,886.70m²*) across two regular shaped and level blocks of land. Located within 300m* from the main Neighbourhood Centre in Austral which may offer a premium on future resale of residential blocks. Within 3km* to Leppington Railway Station, which will be a key town centre for the growth of South West Sydney. Within 1.5km* proposed Fifteenth Avenue Smart Transit (FAST) linking Liverpool to the Western Sydney Airport via Austral.
According to Nick Estephen, Director of Colliers’ Investment Services, “40-50 Eleventh Avenue is a rare development opportunity in a suburb that is rapidly growing and in high demand. With construction of the Western Sydney International Airport underway and the Fifteenth Avenue Smart Transit in planning, this area is poised for continued growth and demand for residential property.”
Thomas Mosca, Director of Colliers’ Investment Services, added, “The DA comrpises a total yield of 43 lots and offers a range of possibilities for developers. The proximity to the main neighbourhood centre and public transport options make this an attractive location for potential buyers.”
Joe Sacco, Associate Director of Colliers’ Investment Services, said, “The potential for future resale of residential blocks in this area is promising, particularly given its proximity to key infrastructure and employment centres such as the proposed Woolworths in Leppington, the Western Sydney Airport and the expanding health precincts.”
Austral is a suburb in South West Sydney and according to the 2021 Census, has a population of 6,071 people. The region is known for its family-friendly neighbourhoods and is expected to see a population growth of 37.3% by 2041, according to the Greater Sydney Commission. Key attractions in the region include the expanding health precincts, employment centres such as the proposed Woolworths in Leppington, and major infrastructure projects such as the Western Sydney Airport and the Fifteenth Avenue Smart Transit project.
The property is being offered For Sale via Expression of Interest, closing on Wednesday, 22nd June 2023 at 2:00pm.
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