Former detention centre Bidura, Glebe sells to Chinese property developer

Former detention centre Bidura, Glebe sells to Chinese property developer
Former detention centre Bidura, Glebe sells to Chinese property developer

A Chinese group has reportedly bought the former Bidura, Glebe juvenile detention centre.

The NSW state government sold 357 Glebe Point Road site for $33 million. 

NSW Minister for Finance and Services Dominic Perrottet said the new undisclosed owners had the potential for new ­residential development.

“Early analysis indicates the property could house up to 100 units if developed," he said.

Savills agents Stuart Cox and Simon Fenn secured the sale of the 5,556 square metre holding.

“By divesting surplus or underutilised property assets the NSW government is taking a responsible approach to property management, rather than being encumbered with costly maintenance and other expenses," the minister said.

Funds from the sale of 357 Glebe Point Road will go towards sourcing new accommodation for family and community services and Department of Justice. 

The preservation of Bidura House is legislated as part of the City of Sydney’s local environment plan. 

No formal buyer indication has been given, with the Australian Financial Review nominating it as a Chinese property developer. The AFR mistakenly identified it as the Yi Yang group.

 

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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Sydney

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