A high profile site with development approval for an apartment complex at Homebush in Sydney’s inner west has been sold by Ray White Commercial South Sydney for $12.6 million.
The approximately 2,216 sqm property at 172-176 Parramatta Road, Homebush, was sold to a local developer by Ray White Commercial South Sydney’s Peter Kotzias on behalf of a private local company.
Peter Kotzias said the former caryard site has development approval for 84 apartments.
“This site was sold off-market to a developer ready to exchange and settle in a short period of time,” he said.
“The vendor had amalgamated the three caryard sites and obtained a DA for the apartments to put the property up for sale.
“We had strong interest in this site from our buyer as this area is undergoing significant rejuvenation with caryards and warehouses in this precinct proving popular for redevelopment.
“The site is within close proximity to Homebush Railway Station and has easy access to the M4 Motorway. There are good local primary and secondary schools as well as shopping centres.”
Homebush is approximately 15km west of the Sydney CBD and is near the Sydney Olympic Park and Flemington Markets.