Transport for NSW banks premium for Blacktown block
Transport for NSW is continuing to reweigh its portfolio – this time selling a Blacktown block capable of yielding an apartments.
Actually four neighbouring parcels, 33 and 49-55 Bedford Road, and 4 Dunstable – forming an L-shape – the state government reaped $4.6 million – $600,000 over reserve – at auction last week.
Twenty seven bids came in.
As well as developers looking to sell down a project, suitors included occupiers, intending, amongst other things, a place of worship and childcare; the property is highly exposed to Sunnyholt Rd.
A retail complex with apartments above, or townhouse, are considered the most straightforward development outcome for the 4461 square metre E1 zoned amalgamation.
CBRE’s Lord Darkoh, Ray Ahsan and Alex Mirzaian were the agents.
The deal comes four months since we reported the government department sold another surplus site – sitting over the Westconnex tunnel at Stanmore – for $5.3m.
Following a campaign targeting apartment developers, seven suitors contested at that auction.
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