Box Hill development site
One of the largest remaining development sites in Box Hill will be offered to the market via an Expressions of Interest campaign. Image supplied.
  • 30.9-hectare Box Hill residential development site to be offered to market by McCall Foundation
  • Foundation will retain 4.74 hectares, and say the sale will help the organisation continue providing services at the site
  • Landholding expected to generate strong developer interest amid Sydney's housing shortage

A 30.9-hectare residential development parcel in Sydney’s northwest will be offered to the market by the McCall Community Gardens Foundation.

The Box Hill landholding, located at 10-32 Terry Road, is expected to fetch a sale price in excess of $200 million dependent on the transaction structure.

The land is said to be one of the largest remaining residential development holdings in the area and is for sale by the Foundation in an effort to “future proof” their work.

The property forms part of the McCall Gardens facility and has been operated by the Foundation as a place of accommodation and community facilities for people with disability for the past 70 years.

The Foundation will retain 4.74 hectares of the site to continue its operations and is open to accepting a variety of transaction structures.

Knight Frank agents Grant Bulpett and Mark Litwin have been appointed to manage the sale and oversee an International Expressions of Interest campaign.

Sale will ‘future-proof’ work of the Foundation

McCall Community Gardens Foundation Chair Dan Reeve said the sale is a one-off opportunity that will ensure the Foundation can continue providing community facilities by refurbishing existing buildings at the site.

“The McCall Foundation, through its Board of Directors, is currently reviewing a number of possibilities to future-proof the important work carried out by McCall Gardens Community Foundation, which has provided accommodation and other ancillary services for people with disability since 1957,” he said.

“Any decisions made by the board will consider the ongoing need to provide quality care and support for its participants and to enhance the local community of Box Hill.”

Dan Reeve, McCall Foundation Chair

Mr Reeve added that the decision to offer the land for sale revolved around three key objectives outlined by the Foundation’s board.

“These include the need to maintain an ongoing attachment with the history and heritage of McCall Gardens, the imperative of ‘future proofing’ the long-term financial needs of the operations and services of the charity, and ensuring the heritage elements of the site are maintained for the local community.”

One of Box Hill’s largest remaining development sites

Situated opposite the Box Hill City Centre due for completion in 2023, the Terry Road property presents an excellent development opportunity with zoning to support a range of offerings.

The purchaser will have the option to deliver more than 1,150 dwellings across house and land packages, townhouses and low-rise apartments in close proximity to shops and services.

Mr Bulpett said the property is a significant offering in the Box Hill area as it is one of the last remaining greenfield residential development sites.

“Box Hill is still an emerging precinct with incoming amenity such as a hospital and educational facilities, as well as growing employment all close by.”

Grant Bulpett, Knight Frank

Grant Bulpett
Grant Bulpett, Knight Frank. Image – LinkedIn

“The site has the opportunity for a diverse offering including detached housing, townhouses and apartments which should meet the growing demand for residents looking to be close to the incoming amenity and infrastructure.”

Mr Bulpett expects an influx of interest from buyers including interstate and international developers, considering the size and diverse offering of the site.

Mr Litwin said that despite interest rate rises temporarily impacting the market, Sydney’s chronic housing shortage continues to drive strong demand for residential development sites.

“With overseas migration set to rebound strongly, as well as intra and interstate migration back to New South Wales, demand for homes in Sydney will continue to be strong, and significantly more supply will be needed.”

“The scale of this Box Hill site offers a significant future development pipeline across a variety of stock that can be built to meet market conditions over the short, medium and long term if desired,” concluded Mr Litwin.

The Expressions of Interest campaign will close at 4 pm on Thursday 29 September.

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