Epping in Developer’s Sites

07/10/2014 10:57 pm

Epping UAPGoodman Group are seeking to take advantage of the increasing demand for development sites in Sydney’s north-west and put its Cambridge Office Park, which has potential for about 500 apartments, up for sale.

The complex is in Epping, one of the city’s significant urban renewal areas.

The areas is a development hotspot after the NSW government rezoned more than 50 hectares of land for housing and retail in March this year, with the Epping Urban Activation Precinct. As a result, sites in Epping have experienced rapid price growth this year.

The Epping Town Centre Urban Activation Precinct is located within the Hornsby and Parramatta local government areas. The state government’s planned ­revitalisation of Epping will include 3750 new homes within an 800-metre radius of the train station. Blockbrief has researched all the sites involved in the zoning and planning controls changes in Epping and the data is available for members in our database.

JLL’s Sam Brewer and Ben Hunter will market the Cambridge Office Park on behalf of Goodman, first flagged for potential sale by ­The Australian Financial Review in July.

“The site at Cambridge Street enjoys a prime location within the Epping Town Centre and is a key beneficiary of the ­government’s planning change,” Mr Brewer said.

“A further advantage of the site is vacant possession in January 2015, which will allow ­developers to take full ­advantage of the current cycle.”

In August, eight residents sold their homes in one line for more than $30 million – over three times what the houses were individually valued at in 2012. The bungalows could yield up to 138 apartments.