The tides are slowly turning for the tightly held South Sydney suburb of Rosebery, as a unique mixed use development site is set to hit the market, with a price guide of over $90 million.
James Bellew and Trent Gallagher of Colliers International have been appointed to market the 11,830msqm* site at 67-77 Epsom Road, Rosebery which has Stage 2 Development Consent for the construction of a part 6 and part 13 storey mixed use buildings, containing 267 residential units, 49 serviced apartments, 15 ground floor retail tenancies and two levels of basement parking for 283 vehicles. The Gross Floor Area (GFA) comprises over 28,000sqm, providing for serviced apartments, retail and residential uses.
The Vendor is currently in the process of demolishing the existing industrial improvements and following further subdivision of the sites to accommodate the proposed road networks and park, the property will form an island site with four street frontages including 103.33m along Epsom Road, 64.73m along Dalmeny Avenue, 102.115m along Magari Street and 67.605m along Bunmarra Street.
According to James Bellew, National Director of Residential Site Sales for Colliers International, “Rosebery, Waterloo, Zetland, Alexandria and South Sydney in general, are experiencing a period of major change to their urban fabric.
“This overarching redevelopment is changing the nature of these suburbs and 67-77 Epsom Road is proposed to be a bold element in the streetscape – and a safe haven investment for savvy investors looking to secure a piece of highly coveted Sydney real estate” he said.
The site is positioned on the doorstep of Green Square Town Centre which provides retail, commercial and residential space and the award winning East Village Shopping Centre is 750m to the North.
According to Trent Gallagher, Director of Property Sales & Leasing, “This very unique offering will suit local and offshore developers and institutions looking to capitalise on the limited residential development land in South Sydney, just 4kms from the Sydney CBD”.
There are a variety of public parks and amenities within walking distance, as well as a number of bus routes to and from the CBD, UNSW and South to Botany Bay. Schools include Gardeners Road Primary School, St Therese’s School and the Sydney International Film School, all within close proximity to the site.
67-77 Epsom Road, Rosebery will be sold via Expressions of Interest closing 3pm (AEST) 23 February 2017.
Content Courtesy: Colliers International