A large land holding close to the Bella Vista metro station in Glenwood, in Sydney’s northwest, has been sold following strong buyer interest.
The 2.25 hectare site at 1000 Old Windsor Road was purchased by a local vocational training establishment from The Anglican Schools Corporation for $17.5 million.
The sale of the property, which has SP2 Infrastructure Education Establishment and Place of Worship zoning, was negotiated by negotiated by Grant Bulpett and Mark Litwin of Knight Frank.
The property, which has been occupied by the Plumbing Industry Climate Action Centre, is currently improved by a congregation hall, a basketball court, demountable classrooms, a training centre and playing field. It will continue operations on the site for the foreseeable future.
Mr Litwin said the Expressions of Interest campaign for the property resulted in 70 enquiries from potential buyers attracted to the location and future development potential of the site.
“It is an expansive site in a high-value position in the northwest growth corridor, with plenty of access to existing amenity,” he said.
“This significant land holding sits in a premium postal code in Sydney’s North West, just 200 metres from the Bella Vista Station and Town Centre, providing an easy connection to major employment, retail and lifestyle centres.
“The rarity of the range of uses allowed us to penetrate very specific sectors in the marketplace, and drive interest through a highly targeted marketing and sales strategy.”
Mr Bulpett said there was ongoing demand for sites with development potential in the current market. “The market was extremely active for this property and this zoning,” he said.
“As part of a growth corridor, the need for training and education facilities in western Sydney is increasing as the population continues to expand.
“This was an excellent example of how to set up a bespoke strategy and garner attention from end users and speculative investors from all across Sydney.”