The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
TUD CELEBRATES QLD STATE OF ORIGIN VICTORY 2-FOR-1 URBANITY TICKET DEAL - BUY TODAY
CELEBRATING QLD STATE OF ORIGIN VICTORY 2-FOR-1 URBANITY TICKET DEAL
GET DISCOUNTDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
RetailStaff WriterThu 11 Feb 16

Prominent Western Sydney Site Sold For Record Price

1

A potential mixed use development site (STCA) situated on a prominent Parramatta Road corner at Ashfield in Sydney's inner western suburbs has been sold for the first time in 30 years in a record price for the area.

The high profile site adjacent to Bunnings at 502-596 Parramatta Road was sold for $3,987 per square metre to a local owner occupier by Ray White Commercial Inner West's Kristian Morris and Tim Morrison.
Mr Morris said the sale price for the landmark corner block, which was the site of a former timber yard and is located one of Sydney’s busiest corners, eclipsed the previous record for the B6 Enterprise corridor zone of $3,977 per sqm.

“This is the highest profile corner in the inner west and the price ended up reflecting that,” Mr Morris said.

“Rarely do sites of this size and quality come up in Sydney’s inner west, especially along the ever changing Parramatta Rd corridor near the WestConnex extensions to the M4.

“The buyer is an owner-occupier who had been looking to replace a site recently compulsory acquired by the WestConnex project. The sale also included an adjoining block providing a total site area of 1429 sqm. This site enjoys high exposure to approximately 100,000 vehicles daily and is less than 15 minutes from Sydney’s CBD.”

Mr Morrison said the property is surrounded by a high disposable income suburban demographic and is a short distance to Ashfield’s retail precinct and railway station.

“The site is zoned Flexible B6 Enterprise Corridor which allows a 15m building height limit and a maximum floor space ratio (FSR) of 1:5:1,” he said.

ResidentialAustraliaReal EstateSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
Freecity Rouse Hill triple towers 2 Tempus Street
Exclusive

Freecity Takes Covers Off $330m Triple Towers in Sydney’s North-West

Leon Della Bosca
5 Min
Parallel Workshops Stockdale Housing PBSA project
Exclusive

Suburban Success Story Turns PBSA Thinking on its Head

Leon Della Bosca
7 Min
Exclusive

Interstate Developers Find Lots to Love in ‘Progressive, Affordable’ SA

Taryn Paris
5 Min
Bates Smart Richmond Sportslink HERO
Exclusive

BtR Focus Drives Bates Smart’s Richmond Sportslink Concept

Leon Della Bosca
6 Min
Exclusive

Carparking Correlation: How Parking Fees Provide Office Sector Health Check

Taryn Paris
6 Min
View All >
Development

Brisbane Needs Big, Hairy, Audacious Goals and a Plan: Peter Edwards

Taryn Paris
Genton Architects' rendering of the East Village Sunbury project by Birchmore and IDA on Lancefield Road in Sunbury, Victoria.
Retail

Retail Centre Moves Ahead as Sunbury Prepares for Growth

Marisa Wikramanayake
Maroochydore Habitat The Millwell render hero
Residential

Midrise Project Breaks Ground as Sunshine Coast Ramps Up

Phil Bartsch
The $243-million mixed-use development will comprise 205 apartments across two buildings rising up to nine storeys...
LATEST
Development

Brisbane Needs Big, Hairy, Audacious Goals and a Plan: Peter Edwards

Taryn Paris
3 Min
Genton Architects' rendering of the East Village Sunbury project by Birchmore and IDA on Lancefield Road in Sunbury, Victoria.
Retail

Retail Centre Moves Ahead as Sunbury Prepares for Growth

Marisa Wikramanayake
2 Min
Maroochydore Habitat The Millwell render hero
Residential

Midrise Project Breaks Ground as Sunshine Coast Ramps Up

Phil Bartsch
3 Min
Freecity Rouse Hill triple towers 2 Tempus Street
Exclusive

Freecity Takes Covers Off $330m Triple Towers in Sydney’s North-West

Leon Della Bosca
5 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/prominent-western-sydney-site-sold-record-price