A mixed-use commercial development site immediately adjacent to the Norwest Station in Norwest will hit the market this week.
It is expected to attract significant developer interest amid the rising popularity of modern commercial stock in metropolitan markets in the post-COVID environment.
The 9,404 sqm (approximately) site at 25-31 Brookhollow Avenue within the Norwest Business Park has the potential for up to 52,000 sqm of gross floor area across commercial, hotel and retail uses (subject to council approval).
The site, which is currently vacant, will be taken to the market via an Invitation to Tender campaign run by Mark Litwin, Wally Scales and Grant Bulpett of Knight Frank.
Landcom, on behalf of the vendor, Sydney Metro, is seeking responses from experienced developers to the Invitation to Tender to acquire the mixed-use commercial development opportunity.
Mr Scales said: ”This is a once-in-a-generation opportunity to secure the preeminent commercial development site in Norwest, immediately adjacent to the new metro station.
“Recently approved site-specific planning controls, including permissible floor space ratios and building height, allow for a new benchmark in high-rise commercial development within the Norwest Business Park to capitalise on rapid access to Macquarie Park, Chatswood and Sydney CBD and beyond by 2024.
“The site presents the opportunity for a landmark development that will become an essential part of the future of the Norwest Station Precinct, creating a benchmark for transit-oriented development and a great place to do business, work and visit.
“Given the location, size and nature of the potential development we expect this site will appeal to well qualified national and international developers seeking landmark projects.”
Mr Litwin said the development site was in a strategic location adjacent to Norwest Station.
“The Norwest Business Park is a well-established commercial centre with a limited supply of available stock, presenting a rare opportunity to invest in Norwest.
“With improved commuter access from Norwest Station directly below, a well-qualified local workforce and attractive amenity, in a post COVID environment it is well placed to attract new business occupants relocating to upgraded premises that are closer to where their staff live.”