ReVest Property Group is pleased to announce the successful sale of a key 4.0-hectare residential subdivision site at 22 & 24 Kelly Street, Austral, for $21,700,000 to Crownland Developments. The transaction marks a strategic addition to Crownland’s growing portfolio in one of Sydney’s most rapidly evolving growth corridors.
Located in close proximity to the future Western Sydney International (Nancy-Bird Walton) Airport, the site offers a diverse planning framework with zoning across R2 Low Density Residential, R3 Medium Density Residential, RE1 Public Recreation, and SP2 Education Establishment. While the property presented several development hurdles — including SP2 zoning restrictions and Sydney Water servicing capacity limitations — the purchaser was able to unlock further value given the synergy with their adjoining developments.
This strategic acquisition adds to Crownlands purchase in October 2024 of the adjoining 8-hectare parcel from Bathla Group for $42,000,000. Both transactions were facilitated by Andrew Sukkar, who continues to advise on strategic site acquisitions across Western Sydney.
“The sale of 22 & 24 Kelly Street is a testament to the confidence developers have in the long-term growth in South West Sydney,” said Andrew Sukkar, Partner at ReVest Property Group.
Andrew Sukkar
Principal, ReVest Property Group
andrew@revestpg.com.au
0432 082 628
See more on this from: The Asean Developer, TradedAU, and Australian Property Markets News
