Castle Group to reshape Austral after $119.5m site purchase

One of the largest ever landholdings in Austral has sold for a record $119.5 million to Castle Group, a residential developer in Western Sydney.

The site acquisition, over 41-hectares on GURNER Avenue, will pave the way for a major housing development.

Joe Sacco of Colliers and Frank Oliveri of Oliveri Capital handles the sales campaign on behalf of the Hellenic Village.

“This sale is a true testament to the strength of the local market, given the sheer scale of the offering," Sacco said.

"Austral continues to be transformed, and this transaction provides the incoming purchaser with the perfect opportunity to create an exceptional new community in the heart of one of Sydney’s fastest-growing regions."

Castle Group’s vision for the site is for a connected and sustainable master-planned community of 550 homes, where its residents will benefit from proximity to major infrastructure and jobs at the

Western Sydney Airport and aerotropolis, while enjoying the natural bushland of Western Sydney Parklands at their doorstep.

Head of Development of Castle Group, Stuart Allen, said the development will help meet the growing demand for low and medium-density housing in Western Sydney.

“Castle Group is investing heavily in South West Sydney and with this acquisition, we’ve grown our footprint in the area to seven projects totalling more than a thousand homes,” Allen said.

“We’re a Western Sydney company, we’re part of the community that we work in, and we’re excited for this opportunity to positively shape Austral’s future.”

Austral is experiencing a surge in development, driven by its proximity to the future Western Sydney International Airport (due to open in 2026) and the Western Sydney Aerotropolis. 

Austral has also been earmarked for significant residential and commercial development, supported by local and state government initiatives. The suburb benefits from ongoing upgrades to road networks, including Bringelly Road and The Northern Road, which improve access to major motorways like the M7 and M5.