A rare Marrickville development site held by the same family for 120 years has sold for about $10 million to a developer through CBRE, following a competitive campaign that attracted 12 offers.
The parkside property at 34-38 Jersey Street was brought to market for the first time through an Expressions of Interest campaign closing in December 2025.
CBRE’s Andre Taouil and Connor O’Neil conducted the sale, working collaboratively with CBRE’s Structured Transactions and Advisory Services (STAS) team to maximise the site’s development potential.
The 1,410 square metre site, with 35 metres of street frontage was presented as a prime parkside Transport Oriented Development (TOD) opportunity, currently generating holding income from two residential dwellings.
Mr Taouil stated the Inner West property market remains highly competitive, driven by significant rezonings within the TOD precincts, which have materially reshaped development potential across the region.
“High-quality sites, particularly those positioned along strategic corridors such as Jersey Street in close proximity to the Metro line and established lifestyle and transport amenities, are attracting strong attention from a broad range of developers seeking to capitalise on increased density allowances and improved connectivity.
“Marrickville’s appeal is further strengthened by the NSW Government’s Our Fairer Future plan, which introduces planning control uplifts aimed at boosting housing supply around key infrastructure. These combined planning initiatives have materially enhanced site feasibility and long-term value, underpinning heightened demand and intensifying competition among developer groups active in the Inner West.”
The site sits just four kilometres from Sydney Domestic & International Airport and eight kilometres from Sydney CBD.
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