Blacktown City Council sells mixed-use site for $20 million

Blacktown City Council sells mixed-use site for $20 million
Blacktown City Council sells mixed-use site for $20 million

A local developer has purchased a site in western Sydney for close to $20 million from the Blacktown City Council with plans to develop apartments and shops.

The 5-19 George Street, Blacktown property comprises 4,644 square metres of land and is currently used for a car park and car rental business.

More than 270 apartments are planned at the mixed-use zoned site. A draft concept scheme, prepared by Cox Architecture for the property, comprises a mixed-use development with 271 apartments, 6,320 square metres of retail and commercial space and underground parking.

Blacktown City Council is the largest municipality in NSW and has an estimated population of 308,000 people which is forecast to grow to 500,000 by 2036.

The deal was brokered by Savills’ Robert Lowe, Neil Cooke and Stuart Cox.

"This was a development opportunity with everything going for it including mixed-use zoning, three street frontages, a virtually clean site with short term income, and a superb gateway location within Sydney's hottest growth area," said Lowe.

The site is adjacent to the Blacktown CBD.

Tags: 
Property Development Blacktown

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