Colliers has been appointed to sell a collective approximately 988 acre parcel of land in the Southwest Sydney suburb of Picton, amidst a rise in the cost of land off the back of urban sprawl.
The property, which is being dubbed ‘The Pinnacle’, is made up of three separate lots that are linked to one family who have historically been involved in the livestock trade.
An enormous landholding of this size and scale presents the opportunity to masterplan an entire community (STCA), as Sydney’s housing demands extend further into the region.
Located approximately 1.5 kilometres from Picton town centre with access to amenity and infrastructure, the property has the key foundations for potential future development.
It is exclusively listed with the Colliers team of Thomas Mosca, Nick Estephen and Frank Oliveri, with price expectations north of $50 million.
“Picton has seen substantial expansion in recent times with strong growth fundamentals and a flourishing community. This sets huge precedence for more growth and activating a site like this one will substantially boost the area” Mr Mosca said.
“We have seen heightened demand for large landholdings of this scale on the outskirts of Sydney with many major developers and high-net worth privates looking to capitalise on future masterplan opportunities that will inevitably benefit from the expanding housing market in Sydney,” Mr Estephen added.
Part of the property is currently occupied by grazing cattle and could accommodate approximately 300 head on site.
The listing follows the progression of Wollondilly Shire Council’s plans to revitalise the region, which should see Picton become a major commercial and residential hub that caters to the need for more housing and employment in greater Sydney.
’The Pinnacle’ Picton is being sold by way of an International Expressions of Interest campaign set to close in early August.
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