Legacy Property entered into a joint venture with the owner of an existing car dealership to investigate planning opportunities for this significant 7,000sqm holding that is strategically located in the Kings Bay Precinct within the Parramatta Road Urban Renewal Corridor.
Our proactive and well founded approach to development outcomes on the site resulted in UrbanGrowth NSW supporting our proposal for a favourable mixed-use zoning in the final Parramatta Road Strategy, representing a significant uplift from the business zoning that was originally proposed.
Legacy Property was also able to successfully acquire an adjoining corner property, resulting in an expanded and more optimal development site.
As a result of the increased value and future development potential, Legacy Property and the landowner elected to sell the site in 2017 achieving a significant premium to the established baseline value of the property.
MLC Centre, Level 27
19-29 Martin Place
Sydney NSW 2000
T: (02) 9252 1111
AGENTS & LANDOWNERS: