Colliers Secures Vendor Record Rate Amidst Rezoning & Withdrawal of Industrial Stock

Highly competitive Expressions of Interest campaign results in successful sale to a local occupier

Colliers is pleased to announce the successful sale of 5 Byfield Street, Macquarie Park for a record rate. The result underscores the growing demand for strategic landholdings in Sydney’s rapidly evolving Macquarie Park Innovation Precinct.

The property comprises a 4,606* sqm landholding improved by a 1,855* sqm freestanding building, including a recently refurbished auditorium and modern office accommodation. Zoned E2 Commercial Centre, the site benefits from incentivised planning controls allowing for a 2:1 Floor Space Ratio and a maximum building height of 45 metres, enabling a potential Gross Floor Area (GFA) of 9,212 sqm (STCA). This particular site attracted a broad range of purchaser profiles, with strong interest from parties focused on redevelopment potential.

“Following the gazettal of the new planning framework for the Macquarie Park Precinct (TOD), there has been a significant increase in interest from both domestic and international capital seeking opportunities in the area,” said Trent Gallagher, National Director at Colliers. “The strategic value of the asset was clearly recognised by the market, which was reflected in the competitive pricing outcome achieved.”

“Opportunities such as 5 Byfield Street are exceptionally rare within the Macquarie Park precinct,” added Sam Thomlinson, Senior Executive at Colliers. “The campaign attracted 243 enquiries and eight formal offers, highlighting the strong demand from developers, investors, and owner-occupiers seeking to capitalise on recent planning uplifts.”

The sale campaign was driven by the site’s flexibility for future redevelopment, including potential uses such as Build-to-Rent (BTR), vertical self-storage, student accommodation, hotel, or commercial office. Its proximity to Macquarie Centre, Macquarie University, and the Metro station further enhanced its long-term value.

This transaction reinforces Macquarie Park’s position as one of Sydney’s most dynamic and high-growth commercial hubs, with continued upward pressure on land values expected as the precinct evolves into a vibrant, mixed-use innovation district.