Western Sydney Super Site Tipped to Top $70m

A masterplanned development site in western Sydney, comprising a marketplace, high-rise towers and a hotel, has been listed for more than $70 million.

The development site forms part of the Cabramatta East Town Centre on Broomfield Street and Cabramatta Road East in Cabramatta, 30km south-west of the Sydney CBD.

The proposal for the site would enable the redevelopment of 22 private properties across a 1.2ha site, owned by Moon Investments and Lubo Medich Holdings.

Lubo Medich was a Croatian child immigrant who initially worked on the family farm in North Queensland before becoming a property baron in Cabramatta in the 1950s and beyond. He and his brother Peter initially bought the Protea Theatre, then built the Royal Theatre at Chester Hill and Casula drive-in, and then bought up Liverpool's Regal Theatre in close succession.

In the late 1950s the brothers moved into hotels and other sectors. After his brother died in the '70s Lubo became a member of the Cabramatta bowling club, PCYC and golf club. 

The town centre site is currently zoned for mixed-use development and consists of a number of smaller retail shops, commercial premises, medical suites, hotel, learning college, church, dwellings, a vacant parcel of land and a car park.

At least half the southern part of the site, with an area of 9200sq m, is under single ownership.

Under the plans, more than 5700sq m would be dedicated to retail, while a further 7000sq m would be for commercial use. 

A further 23,000sq m would be dedicated to the construction of 369 apartments in buildings ranging from 12 to 19 storeys, as well as a basement car park for 410 vehicles.

Harry Bui, Frank Oliveri and Andrew Bui of Colliers International are running the campaign for the listing.

Bui said stages one and two of the town centre development would provide an incoming developer with one of the most prominent landholdings within the Cabramatta CBD, directly opposite the railway station.

▲ Generational assets that have been held for 70 years are set to come to market in Sydney’s southwest. Image: Supplied

“There are a large range of local and institutional developers who see the growth of western Sydney as well as a number of offshore groups looking to recycle capital, so we are expecting a good mix of purchasers,” he said.

“[The site] is being offered for the first time in 70 years with decades of planning to deliver a 19-storey mixed-use development, setting the stage for one of the tallest buildings in Fairfield.”

The site is located between the Parramatta and Liverpool city centres.

Cabramatta is the second largest centre within the Fairfield LGA and had a population of 22,000 in 2016. 

It has an established residential area, with a large commercial centre around the railway station and industrial land uses along the Hume Highway at its eastern periphery. 

The suburb is a multi-cultural town centre. From an urban design and planning perspective it is a fine-grained retail and commercial centre, often with a specialist flavour such as textile and authentic cuisine retailing.

Given the scale of development proposed and the complexity of land ownership of individual premises,the  council said the existing development had been proposed over four stages.