Developer buys Sydney growth corridor apartment site
Level 33 has snapped up a Sydney growth corridor site with plans for six apartment towers and retail.
The 2.17 hectare Kellyville parcel, 301 and 301B Samantha Riley Drive, is costing $58 million.
Marketed as the largest unit building block in the suburb, it was offered with a proposal for 826 dwellings, in towers between 10 and 25 levels (artist’s impression, top).
The gross lettable area circles 84,000 square metres.
With an end value expected to circle $260m, the project is also expected to contain basement parking and a communal space.
Colliers’ Jordan McConnell with Oliveri Capital’s Frank Oliveri was the agent.
“The precinct is…priority growth which has been zoned to promote residential development around key transport infrastructure,” he said.
“On top of this, the infrastructure pipeline ensures security and scale that will continue to see property in the region be highly competed for long into the future,” according to the executive.
“The location…boasts an optimal placement amidst Kellyville’s amenities, with Kellyville Metro Station opposite and the Knightsbridge Shopping Centre right at the site’s doorstep,” he added.
The suburb is about 36 kilometres north west of town.
According to the draft Hills Shire Plan released this month, quoting state government figures, The Hills council area, where Kellyville sits, will be home to c328,635 people by 2041 – a 71pc rise on the approximate current population (192,660).
Most residential development is earmarked for Box Hill, north west of Kellyville.
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