Holdmark Lodges $283m Kingswood Masterplan

Holdmark Property Group has lodged plans for a massive, staged mixed-use development in Kingswood, bringing new life to a former drive-in cinema site. 

The plans submitted to Penrith City Council for 68-80 O’Connell Street, next to the Caddens Corner Shopping Centre, comprise 564 apartments across 19 buildings.

Kingswood is 52km west of the Sydney CBD.

Under the plans, the buildings will be constructed by Sarkis Nassif’s Holdmark across four stages of construction at an estimated cost of $283 million.

Preliminary earthworks and the initial five buildings will be completed in stage 1, delivering 145 apartments; followed by another 246 apartments in stages 2 and 3. 

Stage 4 will comprise the construction of the western portion of the site, which will also deliver the remainder of the apartments plus 1083sq m of retail space.

The majority of units will be two and three bedrooms, with a smaller number of one and four-bedroom homes.

As part of the plans, 444 parking spaces for the Caddens Corner Shopping Centre will be relocated while overall nearly 900 car parking spaces will be delivered.

The site in the Caddens Development precinct is surrounded by the Caddens Corner Shopping Centre, and recently constructed low-density homes. The Werrington Campus of the Western Sydney University to the east.

As an infill development, the developers said it “aims to be consistent with the medium- high density character of the locality as well as providing additional retail offerings for surrounding residential properties.”

Caddens is within the Werrington Enterprise Living and Learning Precinct, which aims to encourage sustainable urvan development capitalising on proximity to tertiary institutes and public transport links.

“The proposed redevelopment of the large site present a unique opportunity to deliver appropriate commercial premises and high density housing within Penrith within a vacant and underutilised land parcel situated within close proximity to educational establishments, commercial centre, child care facilities and public transportation,” Holdmark said. 

The site was previously home to the Kingswood Drive-In Cinema, whichclosed in the 1980s, becoming the site of a local market, and later a car park supporting the Caddens Corner shopping centre.

Turner Studio Architects and Think Planners supported the development application.

Holdmark has spearheaded many major city centre projects in Sydney including Burwood Central, a $600-million development of 1000 apartments which was approved last year. 

The high-profile developer also submitted plans for a 59-storey Sydney CBD skyscraper earlier this year.