Sydney council banks $19.1m for land
The City of Canada Bay has reaped $19.1 million – well over expectation and reserve, according to the agents – for a residential development site in Sydney’s west Concord.
The 5842 square metre parcel, 4-6 Beaconsfield Lane, received 63 bids at auction yesterday.
Twenty groups showed an interest, according to Knight Frank’s Demi Carigliano and Anthony Pirrottina.
Townhouses, apartments or a land subdivision could be considered, they said.
An alternative development outcome, like childcare, could be entertained too, they added.
The property is also accessed from Beaconsfield Avenue and Rhonda Place.
The northern boundary abuts Rothwell Park.
Concord is about 10 kilometres from Sydney’s CBD.
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