Property Billionaire Swoops in on South Sydney Development Site

Leda Group has purchased a $52 million infill redevelopment site located in the tightly held industrial precinct of Milperra in Sydney’s south west.

The group, founded by billionaire property developer Rob Ell, has plans for a land subdivision and strata development on the eight-hectare site.

The infill site was sold by Lennox Industrial, in a deal brokered by Colliers International’s Gavin Bishop, Malcolm Tyson and Sean Thomson, with a holding income of $2.1 million per annum for two years.

The property mogul beat out fierce competition for the tightly held 286 Horsley Road property.

Ell said the site was “strategically acquired.”

“Given the significant investment in infrastructure that is planned or currently under way by the government. Most of this investment is happening within south-west Sydney,” Ell said.

Colliers’ Gavin Bishop said that the Milperra is a tightly-held precinct.

“Historically Milperra’s been a manufacturing precinct, the market is predominantly owner occupied, as opposed to a strong institutional ownership presence,” Bishop said.

“Due to this, there’s limited land supply for development and always a strong underlying demand from the owner occupier market.

The south Sydney precinct is set to benefit from government’s multibillion-dollar investment over the next five years.

“A lot of infrastructure investment has been occurring in the area, with the likes of the WestConnex and the Badgerys Creek airport. It will also benefit from its proximity to the Moorebank Intermodal Freight Terminal, which is just eight kilometres away,” Bishop said.

Forbes estimates the Leda Holdings founder’s Rob Ell’s net worth at $1.33 billion.

Leda Holdings, which owns three shopping malls in Queensland and a forth in Canberra, has been involved with the investment and development of properties worth approximately $3.5 billion.