Allam Property Pays $40m for 30ha in Chisholm

18 January 2022

Residential developer, Allam Property Group have paid $40m for a further 30ha of DA Approved land in Chisholm NSW, forming part of their existing Sophia Waters development.

Located 40-minutes from Newcastle midway between Raymond Terrace and Maitland, Chisholm is a rapidly growing suburb with excellent regional transport connections and access to a range of modern services and facilities.

The property at 581 Raymond Terrace Rd forms part of the Thornton North Urban Release Area which covers approximately 280 hectares and will ultimately provide housing for 9,500 residents. The area was rezoned in 2011 to General Residential.

The Allam site, which was settled in early January, will provide the group with a further 260 lots once fully approved.

Allam’s Sophia Waters Estate will now comprise over 1000 lots which will continue to be developed over the next 5-6 years.

The Group General Manager, Paul Sant advises that the demand for land and housing in Chisholm continues to outstrip supply and this purchase will provide the missing link to allow for the entire Chisholm release to be developed.