Rockdale's Chapel Street site sold for $48 million

Rockdale's Chapel Street site sold for $48 million
Jonathan ChancellorDecember 9, 2014

A private local developer has paid $48 million for the Chapel Street site, a large land parcel in the heart of Rockdale

The sale was negotiated by Savills Australia on behalf of Rockdale City Council.

Situated between Bay Street and Lister Avenue, it spans 7,419 square metres across three sites.

The holding is zoned part B2 Local Centre and part R4 High Density Residential under the Rockdale Local Environment Plan 2011. 

Council provided a concept plan which indicates the potential for over 300 units plus retail space.

Rockdale and surrounding suburbs such as Wolli Creek, Arncliffe, Brighton Le Sands and Kogarah are the focus of a new wave of development activity that is regenerating southern Sydney’s key urban precincts,” according to selling agents Robert Lowe of Savills Metropolitan & Regional Sales and David Poppleton of Savills Residential Special Projects.

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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