Landcom & Stockland pocket $12.1m.

LANDCOM and Stockland have pocketed $12.1 million from the sale of a regional development site sale at Campbelltown.

A two hectare site of vacant land comprising lots 3 & 500 Bolger St, Campbelltown, part of the Macarthur Regional Centre, has been sold to a private investor.

A portion of the land was previously used as a temporary commuter car park for the train station, this car park has been relocated to a development across the road. Currently the buyer is reviewing options to keep a portion of the property as a car park.

Located 50 kilometres south west of Sydney’s CBD, Campbelltown is considered one of New South Wales’ major regional centres, servicing the rapidly expanding population of South Western suburbs, the Southern Highlands and parts of the Illawarra.

The growth of Macarthur Regional Centre is supported by the new residential developments of Park Central, Macarthur Square and a proposed redevelopment of the University of Western Sydney’s Campbelltown campus, which are set to bring a total of over 2,000 new dwellings to the area in the new few years.

Selling Agent Brooke Starkey from Colliers International said the record sale could be attributed to the unprecedented offer of such a large parcel of land with flexible options for use in a growing regional hub.

“It’s definitely a benchmark for the area at large. The sale was a truly unique opportunity and highly attractive to developers and investors who saw the significance of this site in the context of the growth of the local area.

“Subject to development consent there is a very broad range of uses that this site could potentially take on to service the needs of this growing market,” Starkey concluded.

Australian Property Journal