A recently rezoned development opportunity in Southern Sydney is set to appeal to a multitude of buyer types including developers, owner-occupiers and investors looking for a flexible building site.
Located between the new Waterloo Metro and Green Square Town Centre, the 2,349sqm commercial development site at 171B Botany Road in Waterloo is a unique offering that currently has a quality existing warehouse and office facility with a total area of 2,221sqm.
With a large functional site layout and double street frontages, the site comes with B4 Mixed-Use zoning and the ability to build up to 11,628sqm of gross floor area, subject to council approval.
The Colliers team of Trent Gallagher and Joseph Lin have the listing, with pricing around $26 million expected.
“We expect there to be high levels of interest in this asset due to its very close proximity to two key train stations along with its new flexible zoning controls that permit high amounts of GFA for non-residential development, which includes office, hotel, self storage and many more STCA,” Mr Gallagher said.
“Capital values for investment sales have increased over the past 18 to 24 months and generally range from circa $8,500 per sqm to $12,000 per sqm of NLA for A-Grade assets,” Mr Lin said.
Development sites which have traded over the past 24-months for short or medium-term commercial redevelopment have achieved $2,656 per sqm to $3,094 per sqm of maximum potential GFA, with the variances due to a number of factors including holding income, demolition costs, planning status and location.
Situated less than 400m from the Waterloo Metro and 600m from Green Square Station and Town Centre, the property is perfectly positioned close to the CBD allowing for ease of access and connectivity.
171B Botany Road in Waterloo is for sale via Expressions of Interest closing Wednesday, March 1 2023 at 3pm (AEDT).
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