Kingsmede sells Sydney growth corridor site
Andrew Potter’s Kingsmede has sold a Sydney growth corridor housing estate site.
The 3.05 hectare R2 Low Density Residential holding, 70 Gurner Avenue, Austral, fetched $20.5 million.
Kingsmede had lodged plans for a 61-lot subdivision with lots between 250-500 square metres, a non-residential site and five roads.
With a 2.5 year construction timeline, it would have been the group’s first outer west Sydney project.
Austral is 42 kilometres from town.
Kingmede reweighs portfolio
The deal comes six weeks since realesatesource.com.au reported Kingsmede bought a Brisbane housing estate for $6.15m (continues below).
That 3.34ha parcel, 383-393 Hawkesbury Road, Anstead, is earmarked for a 22-lot housing estate.
Last year the group also bought a Salisbury industrial investment from Centuria next to another acquired the year earlier from Dexus.
That suburb is nine kilometres from Brisbane’s CBD.
RomicMoore’s Slavko Romic and Anthony Moore marketed 70 Gurner Ave.
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