Western Sydney land owners join forces to reap returns
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Aug 17, 2016
Western Sydney land owners join forces to reap returns
There is a growing trend among Western Sydney home-owners to group properties together to maximise the sale price.
There is a growing trend among home-owners in Western Sydney to group properties together to maximise both the land area and the sale price according to Matrix Property, Sydney’s prominent residential development site
specialist.
“Home-owners can effectively almost double the value of their land by joining with a few neighbours to create a larger site. Larger sites catch the eyes of developers who are all competing to buy land to build townhouse and apartment complexes on”, said Brian Crawford, of Matrix Property, also a longterm resident of Western Sydney.
“It is becoming increasingly difficult for developers to find well-located sites in growth areas across Sydney and many are seeking land in Western Sydney, due to affordability and forecast population growth”, said Crawford, “but there can be pitfalls to site amalgamation also, and it is important land owners seek professional advice to ensure their strategy is on the right track and their pricing is to market values. Developers are expert negotiators and many home-owners could wind up achieving less than they should if they do not have the right advice”, he said.
Matrix Property is currently marketing two such sites in Western Sydney that have been amalgamated by private land owners, seeking to capitalise on this trend and achieve the highest possible price for their land.
The first site at 22-26 Pioneer Street in Seven Hills offers a site area of over 2,000 square metres and could potentially accommodate 40 two-bedroom apartments, subject to Council approval.
Another at 51-53 Kildare Road and 16 Allawah Street in Blacktown has a DA approval for 46 residential apartments. It offers two premium street frontages and is close to many schools, TAFE and Blacktown Hospital.
“Both of these are generating strong interest due to their proximity to M2, M4 and M7 and the surrounding well-established social infrastructure. Developers see the growth potential in Western Sydney and are keen to acquire as much land as possible”, Brian Crawford said.
Matrix Property provides a complete service for home-owners to make the process as straightforward and easy as possible and provides obligation-free advice, assistance with site amalgamation and the marketing and sale of the completed site.
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