Generational assets that have been held for 70 years are set to come to market in Sydney’s southwest.
The mixed-use development site which forms part of the Cabramatta East Town Centre provides a stable holding income while also offering an already approved masterplan that will deliver up to 19-storeys in the heart of a thriving South Western Sydney community.
Situated on Broomfield Street and Cabramatta Road East, stage one and stage two of the Town Centre development provides one of the most prominent developable landholdings within the Cabramatta CBD directly opposite the railway station.
Harry Bui, Frank Oliveri and Andrew Bui of Colliers have the exclusive listing, with price expectations in excess of $70 million.
“Cabramatta East Town Centre will be well received by the target market, as there are a large range of local and institutional developers who see the growth of western Sydney as well as a number of offshore groups looking to recycle capital, so we are expecting a good mix of purchasers,” Mr Harry Bui said.
“It is being offered for the first time in 70 years with over decades of planning to deliver a 19-storey mixed-use development, setting the stage for one of the tallest buildings in the Fairfield City Council LGA,” Mr Bui Added.
“This new mixed-use development will set a benchmark in Western Sydney for design, amenity and liveability. It provides the opportunity for developers and investors to capitalise on the enormous growth potential of South West Sydney and the new Western Sydney International Airport which set to open in 2026,” Mr Oliveri said.
With 8,140sqm of land, the development presents an exciting opportunity for developers and investors to capitalise on the enormous growth potential of South-West Sydney and the new Western Sydney International Airport, whilst benefitting from key public amenities and transport systems in one of Australia’s most popular destinations.
The site has a proposed gross floor area of 36,976sqm and will includes the demolition of existing buildings and the construction of 369 units and 4,934sqm retail/commercial, including 410 basement car spaces, a proposed overhead pedestrian bridge (subject to TFNSW), activated frontages and open-air public market space.
“Cabramatta is a truly diverse multicultural town centre within a well established precinct and the residents are proud of their diversity and consider it a major strength. The Cabramatta East Town Centre development will provide a foundation for future generations in a cultural environment that is vibrant, thriving and filled with opportunities to learn and grow whilst embracing their cultures,” Mr Harry Bui said.
“Home to highly acclaimed tenants including the Stardust Hotel and Iron Chef Seafood Chinese Restaurant, it provides the incoming purchaser with the opportunity to deliver a world-class development set to rewrite the skyline for decades to come in one of the fastest growing precincts in Australia,” Mr Andrew Bui said.
76, 84, 86 Broomfield Street and 125, 139, 147-149 and 151 Cabramatta Road East are being offered for sale by International Expressions of Interest (EOI) campaign, closing Wednesday 30th November 2022 at 3pm (AEDT).