Parramatta Road, Burwood

Offering
Mixed use

Status
Completed

Legacy Property entered into a successful joint venture with the owner of an existing car dealership to investigate planning opportunities for this significant 7,000sqm landholding, located in the prestigious Kings Bay Precinct within the Parramatta Road Urban Renewal Corridor.

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A proactive, strategic approach to development outcomes resulted in UrbanGrowth NSW supporting a 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 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.