Itโs zoned for on-site development of motel accommodation and has three hectares earmarked for subdivision within Tamworthโs tourism, entertainment, equine and sports precinct. A proposal is underway for rezoning it to medium-density housing for up to 130 dwellings.
Colliersโ Tim Woolf and Commercial Collectiveโs Adam Leacy and Matt Kearney have the listing.
Tradelinkโs trajectory
Big-ticket property sales may still be few and far between as investors struggle with uncertainty and financing issues, but demand for lower-priced property is on an upward trajectory.
In a busy week, Sydney Metro has offloaded a quality office space on Level 3 of The Connect at 34 Hume Street, Crows Nest.
The premium A-grade office space was acquired by a local owner-occupier for $3.98 million underscoring the desire for commercial spaces in the area, said agents at Stanton Hillier Parker, who negotiated the sale in collaboration with agents from Lowry Property Group.
Further north, two properties, with solid long-term tenancies to the hardware group Tradelink, have sold.
Tradelink rents the property on a 5+5 year triple net lease.Credit:
Number 316 Peats Ferry Road in Hornsby went for $3.9 million, and another property at 7 Anderson Place in Windsor was marked down at $2.011 million, after a flurry of bids to purchase both properties.
The Hornsby property, sold by James Cowan, Tom Appleby and James Mullin, is rented to Tradelink on a 5+5 year triple net lease. It attracted eight registered bidders and sold 25 per cent above reserve, drawing in close to 100 enquiries. The price reflects a tight yield of 3.85 per cent.
Electric Ultimo
A major mixed-used project is being planned for Sydneyโs city fringe after private developer apt.Residential (yes, thatโs its name) snapped up a site from Ausgrid.
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The 2840 square metres of land has approval to build 260 rental apartments โ 160 flats at 1-3 Smail Street and a further 100 apartments at 41-49 Mountain Street. Affordable housing and new retail spaces on both Smail and Mountain Streets are included in, what will be a $240 million project.
The site is in the heart of Ultimoโs Heritage Conservation Area and the development will revitalise the former Grace Brothers warehouse and an adjoining heritage-listed electrical substation on Smail and Mountain Street.
Construction is expected to start later this year and be completed in late 2026.
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Kellyville project
One of north-west Sydneyโs largest development sites will be transformed into a $260 million mixed use development after selling for $58 million to private developer Level 33.
The 21,694 sq m site at 301-301B Samantha Riley Drive in Kellyville, the largest development site in the suburb, has plans for six buildings from 10 to 25 storeys housing high housing 826 units and a mix of retail spaces.
The area near Kellyville Metro Station and the Knightsbridge Shopping Centre is considered a priority growth precinct and is zoned to promote residential development around key transport infrastructure.
Colliersโ Jordan McConnell and Oliveri Capitalโs Frank Oliveri handled the sale.
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