Developers swap Gosford’s Kibbleplex site
Paul Lederer has sold Gosford’s ex-Kibbleplex Shopping Centre, also once known as Marketplace and Marketown, to Raj and Jai Construction.
The 1.42 hectare near-island site, with frontage to Donison and William streets, Albany St North and Henry Potter Drive, was offered in March permit-ready for a mixed-use project with 5422 square metres of office and retail and over 700 apartments.
Known as Pacifica Gosford, its end value was put at c$345m.
Mr Lederer paid $13m for the parcel in 2013.
That seller, Gosford Council, acquired two years it for $11m, the bulk ($7m) which came from a federal government grant, with plans for an education and learning centre – and possibly, a replacement Gosford Library.
It divested after deciding the high cost to refurbish made that proposal unviable.
Last June, Mr Lederer, who founded Primo Smallgoods and co-owns the Western Sydney Wanderers, sold the Imperial Centre, diagonally adjacent to the Kibbleplex property, to Melbourne-based IP Generation.
Not long later, the Karedis family offloaded a 5017 sqm site permit-ready for two residential towers, the tallest, 24 storeys.
Pacifica Gosford
The Pacifica Gosford site formed part of a 5.8ha amalgamation which between 2016-2018, Mr Lederer intended to replace with an $850m master-planned project, Gosford Alive.
The Kibbleplex component which just sold, known as 136-148 Donnison St, was approved for redevelopment in 2020 (story continues below).
With 72,782 sqm of area across five buildings, the tallest rising c30 storeys, uses which could be considered include residential/Build to Rent, offices, retail, tourist accommodation and essential services.
The proposal also includes 1000 car parks.
Colliers’ Jon Chomley and Eugene White listed the asset after the University of Newcastle decided against buying it off-market.
“Located in a coastal location and only an hour from Sydney CBD, Gosford has been the beneficiary of the sea change movement from Sydney, with an uplift in new residents over the last two years,” Mr White said.
“It is also a highly sought-after retirement area with older residents benefitting from the extensive medical and care services in the region,” he added.
Gosford Court House, Gosford TAFE and Gosford train station are in the immediate area, according to the executive.
An essential services focused building boom is also underway, he said, led by the Gosford Hospital, worth $368m, and Wyong Hospital ($200m).
Raj and Jai Construction is Sydney-based.
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