Six individual properties along Ann and Childs streets, Lidcombe were sold off late last month to a local developer.
The sale price of the sites reached a total of more than $7 million. Principal of Ray White Lidcombe Steven Duong brokered the exchange and said a multi-storey
apartment complex is the most likely option for the site.
“There is a huge demand on supply in Lidcombe and the surrounding suburbs at present,” Mr Duong said. “So buyers will certainly welcome the potential of more housing options and affordability.
“A multistorey complex will make the most of what the land has to offer and I’d expect them to be quite popular, given their proximity to area facilities.”
Mr Duong said the suburb of Lidcombe has become increasingly popular with developers in recent months and this was causing a knock-on effect with residential demand rising across the board with no end in sight.
“Lidcombe has great infrastructure and affordable prices – buyers want houses but there just isn’t enough of them,” Mr Duong said.