Western Sydney infill site close to Westmead Hospital sold for $13.5m

21 July 2022

A vacant infill site close to Westmead Hospital in Sydney’s Northmead will be developed following its sale for $13.5 million.

The 6,490sq m site at 150-152 Briens Road was purchased by industrial developer, Hannas from a private owner following a competitive Expressions of Interest campaign run by Wally Scales and James Reeves of Knight Frank in conjunction with Jeff Moxham of Moxham Commercial and Marcel Elias of Bawdens.

The property, which is just a short walk from the hospital, is currently zoned for industrial use but has approval for a carpark and has future development potential, being strategically positioned within the Northmead Employment sub-precinct.

The buyer intends to develop the site into a mixed-use business or industrial estate, but the plans are not yet confirmed.

Being strategically positioned within the Westmead Health and Education Precinct, the property provides the potential for a long-term planning and development upside as part of the Draft Westmead 2036 Place Strategy.

The site is bounded by the NSW Ambulance superstation and a large modern medical laboratory to the north, the Coca-Cola Amatil facility to the east and Toongabbie Creek to the west and south.

Mr Reeves said the site was sought after by buyers, with owner occupiers competing with investors and developers.

“This is the last remaining parcel of undeveloped land within the industrial precinct in Northmead, so it attracted buyers looking for hard-to-come by development opportunities in the area.

“Industrial property is still performing well, so there are many buyers looking for sites of this type and it was no surprise the property was sought after.”

Mr Elias said the strategic location of the site was a drawcard for buyers, with the Westmead Health and Innovation Core Sub-Precinct just 100 metres south.

The sub-precinct is planned to be home to Australia’s largest concentration of hospital and health services and one of the country’s largest health, research and education precincts.

“This site will benefit from its proximity to this precinct, with multiple potential future development outcomes,” Mr Elias said.

Mr Moxham said well-located development sites were still sought after in the current market.

“Westmead is undergoing significant change, so the location of this site was ideal for buyers to capitalise on future growth,” he said.