- 6.56-hectare CSIRO site being tested for market interest
- Price expectations of $250 million+
- Site to be marketed internationally by CBRE
Occupying a 6.56-hectare site in the city of North Ryde, NSW, a CSIRO site approaching the end of its tenure is about to be tested for market interest by property developer Aqualand.
Comprising of two allotments with a variety of building improvements, including corporate offices, laboratories, testing facilities, workshops, and multi-level car parking, the property presents a major redevelopment opportunity.
A large-scale data centre, life sciences, or a build-to-rent project are among the potential development options for the 11-14 Julias Avenue property.
The property will be marketed internationally through CBRE’s Jason Edge, Chris O’Brien, Sharon Yang, and Michael Andrews.
The expected price is currently upward of $250 million, with flexible rental guarantees available for up to five years.
“The size of the property and its proximity to the Sydney CBD will provide an incoming owner with a unique opportunity to reshape an entire precinct.
Demand within the life sciences and build-to-rent market for a site so close to a metropolitan railway station will help fuel interest from a diverse buyer pool given the site’s development potential.”
Jason Edge, CBRE
Offering B3 Commercial Core and B7 Business Park zonings, the allotments are available to be purchased together or separately.
“Factoring in possible bonus floor space ratio provisions and height limits, there is potential to develop new buildings across both properties with a gross floor area of up to 150,000sqm.”
“This will be a key drawcard for local and offshore investors, as will the site’s close proximity to major occupiers such as Boral, Downer, CSR, Datacom, Sharp Australia, Oracle, BOC, 3M Australia, Ricoh, Honeywell and Roche.”
Sharon Yang, CBRE