Aged care provider Anglicare has sold a prominent development site in the heart of Norwest Business Park in Sydney for $21.5m.
The property at 24 Brookhollow Avenue is positioned opposite the Norwest Metro station and is zoned B7 allowing for commercial, retail, industrial, hotels and serviced apartments.
The site was purchased by Anglicare in 1992 for just $1.27 million and has been used for their catering services since 1997.
The property was marketed by Peter Vines and Victor Sheu of Ray White Commercial Western Sydney and Frank Oliveri and Paul McGlynn of Colliers International.
Big plans for the Norwest precinct are still in play as developer Mulpha continues to work through options to enhance the business park.
In 2020, Mulpha received approval for a residential masterplan featuring nine high-rise towers, ranging from eight to 26-storeys. The project will deliver a total of 864 residential apartments, located at 40 Solent Circuit, with Mulpha planning for 200 apartments initially. Mulpha’s also has plans to include a new 110,000sqm retail centre, and 400,000sq m of commercial, retail, health and retirement precinct known as The Valley.
Nearby at 3 Brookhollow Ave, Dexus have lodged an unsolicited proposal to build a High School on a 5.2ha as part of an integrated residential precinct on existing Dexus land. The NSW government has already indicated the scheme is of “sufficient interest” to progress to stage two to enable Dexus and the Government to fine tune the proposal, after which the Steering Committee will make a recommendation to Government on whether or not to proceed.
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