Government sheds North Sydney mixed-use site
A development site earmarked for a mixed-use project adjoining Victoria Cross Metro Station in North Sydney has traded for a speculated $80 million.
The 3132 square metre holding, 52 McLaren Street, was offered by Sydney Metro targeting groups able to deliver a project aligned with the emerging station precinct.
Immediately north of the North Sydney CBD, the holding has development potential for up to 16,947 sqm of gross floor area including residential, commercial, retail and childcare space.
A concept scheme prepared as part of the planning process proposed twin towers of 24 and eight levels above three basement levels containing 121 car parks.
The disposal forms part of Sydney Metro’s broader strategy of facilitating transit-oriented development around major transport infrastructure investments (continues below).
Knight Frank’s Mark Litwin, Jeff Moxham and Dominic Ong were the agents.
Sydney Metro acquired the site from Uniting for $162.5m in 2017 as part of land assembly associated with the station development before pursuing rezoning to permit a higher-density mixed-use outcome.
The purchaser is described as a private developer.
Subscribe to our newsletter at the bottom of this page.
