Entire Castle Hill cul-de-sac up for sale in development precursor

Entire Castle Hill cul-de-sac up for sale in development precursor
Entire Castle Hill cul-de-sac up for sale in development precursor

An entire Castle Hill cul-de-sac is up for sale in one line, as The Hills comes alive with prospective apartment site amalgamations.

All eight neighbours on Poplar Court have united in the hope their early 1970s homes will be snapped up in one lot by a developer.

Totalling 6472sq m, the site is being marketed as a walk to the future Castle Hill train station of the North West Rail Link.

While Gwen Hughes has lived in her Poplar Court home for decades, others — including the development push co-ordinator Leah McGinley — bought just five years ago.

Castle Hill, 26 km northwest of Sydney CBD, has about 10 other known proposed development site offerings, all expecting approvals which will kick-start the likely dramatic change that will coincide with the train’s arrival.

“Own the Street!,” advertises LJ Hooker estate agent Brian Caba, who has the six Poplar Ave houses plus the two bordering Cecil St listed in conjunction with Harcourts agent Steve Cole.

“We want to be among the first out,” Ms McGinley said of the decision to list.

“We want to beat the rush as every man and his dog will be trying to sell sites.”

Mr Caba has led the marketing of the amalgamated sites including 20 neighbours on Middleton, Dawes and Hughes Aves.

They fall within the state government’s Urban Activation Precinct around the North West Rail Link, which is due to start running in 2019, or even possibly ahead of time in 2018.

“I’ve got four sites and am working on another 15,” Mr Caba said.

“Castle Hill is going to be like Chatswood.”

The aim of the state government’s program is to encourage developers to add to the city’s housing supply by building apartments near new and exisiting transport hubs.

While the value of the sites could depend on the details yet to be released by the Hills Shire Council, sellers and agents hope some developers are keen enough to take early positioning.

Castle Hill has been designated an urban activation precinct which will spark a rush of group sales.

Already five houses on Garthowen Cres netted $20 million for their owners last year.

Castle Hill’s median house price is at a record $1.2 million, according to CoreLogic RP Data, with Mr Caba saying typically up to three times as much could be achieved from selling to developers.

House prices across the suburb have increased from $780,000 in early 2013.

Late last year many Castle Hill residents attended meetings on potential prospecting by developers who advised 4000sq m plus was needed for highrise apartments, or about 1800sq m plus for townhouses.

It was after the meeting that Ms McGinley decided to make her neighbourhood’s first mover advantage.

“We are making owners into multi-millioniares,” Mr Caba said.

Despite the likely real estate windfall, the push is also causing fractured friendships between neighbours, even feuding over whether to participate and at what share of the windfall.

There is also concern at the construction turmoil that will beset the suburb in future years.

While Castle Hill is currently in early overdrive, the highrise trend is tipped for other areas such as Cherrybrook, Frenchs Forest, Glenhaven, Dural, Kellyville and Rouse Hill which could all face something of a lesser transformation.

This week 10 owners in St Leonards have put up their homes for sale after Lane Cove Council approved the South St Leonards masterplan to increase dwelling construction.

This article was first published in the Daily Telegraph.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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