Developer doubles down in Sydney growth corridor
Seven months after paying Bathla $42 million for an eight hectare farm – part of a major urban renewal precinct recently zoned for housing and employment – Andrew Wiesener’s Crownland Development has snapped up the block next door.
The $21.7m price for 22 and 24 Kelly Street, Austral (outlined, image, top), two small rural properties all up covering 4.05ha, with a private owner, shows values are continuing to rise in the west Sydney growth corridor suburb – in this pocket for the buyer, 3.2 per cent since October.
Part zoned R2 Low Density and another, R3 Medium Density, 175 dwellings are expected; a development approval is in place including road infrastructure.
A component abuts the proposed Woolworths Austral shopping centre.
Construction is limited for sections zoned SP2 Education Establishment and RE1 Public Recreation.
ReVest Property Group’s Andrew Sukkar was the agent.
Crownland was established in 1992.
Austral is about 42 kilometres south west of the CBD and seven kms south east of Badgerys Creek, where the Western Sydney International Airport and Western Sydney Aerotropolis is taking shape.
Elsewhere in Austral this month, Greek-Australian charity Hellenic Village sold a 41.3ha block for $119.5m to Castle Hill which is planning a c560-lot subdivision.
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