- A 988-acre land parcel in Picton, 90 kilometres southwest of Sydney, has been listed amidst a strong rise in the cost of land across Sydney
- Property is made up of three separate lots
- Colliers has been appointed to manage the expressions of interest campaign
A 988-acre land parcel in Picton, 90 kilometres southwest of Sydney, has been listed amidst a strong rise in the cost of land across Sydney.
Dubbed ‘The Pinnacle’, the property is made up of three separate lots linked to one family, who have been historically associated with the livestock trade.
Given the enormous landholding of this size, there is an opportunity to build an entire community (STCA) given that the housing demand for Sydney has extended further towards the region.
The land is located around 1.5 kilometres from Picton town centre, with access to amenities and infrastructure.
The Colliers team of Thomas Mosca, Nick Estephen and Frank Oliveri have been appointed to list the landholding, with the trio expecting offers of over $50 million.
“Picton has seen substantial expansion in recent times with strong growth fundamentals and a flourishing community. This sets huge precedence for more growth and activating a site like this one will substantially boost the area” Mr Mosca said.
“We have seen heightened demand for large landholdings of this scale on the outskirts of Sydney with many major developers and high-net worth privates looking to capitalise on future masterplan opportunities that will inevitably benefit from the expanding housing market in Sydney,” Mr Estephen added.
Currently, a part of the property is occupied by grazing capital and could accommodate around 300 head on site.
The land is being sold via an international expression of interest campaign, which is set to close in early August.
The listing follows plans by the Wollondilly Shire Council to revitalise the region, as it seeks for Picton to become a major residential and commercial hub catering to housing and employment in greater Sydney.
