A unique mixed use development site in the tightly held South Sydney suburb of Rosebery is underway and expected to reach over $90 million at market.
The 11,830m square metre (approximate) site at 67-77 Epsom Road, Rosebery 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 28,000 square metres, 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 103.33 metres along Epsom Road, 64.73 metres along Dalmeny Avenue, 102.115 metres along Magari Street and 67.605 metres along Bunmarra Street.
“Rosebery, Waterloo, Zetland, Alexandria and South Sydney in general, are experiencing a period of major change to their urban fabric," Colliers International National Director of Residential Site Sales James Bellew said.
“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."
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 750 metres to the North.
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.
Mr Bellew and Director of Property Sales & Leasing Trent Gallagher have been appointed to the site when it hits the market.