One of Macquarie Park’s most notable landholdings is set to be transformed after coming to market through Colliers.
The 15,198sqm site at 44-50 Waterloo Road, currently a business park, boasts strong zoning upside permitting a prominent Build to Rent development as well as purpose-built student accommodation, providing the incoming purchaser a rare opportunity in a highly sought-after location.
The Colliers team of Guillaume Volz, Trent Gallagher, Adam Woodward and James Mitchell have been exclusively appointed, with price expectations north of $100m.
“The Sydney Build to Rent supply continues to lag others national markets, with the sector having difficulty finding feasible sites en masse, principally due to the high land values and the strong competition from traditional Build to Sell projects.
“44-50 Waterloo Road offers the Build to Rent sector an opportunity to acquire a site specifically targeted at institutional Build to Rent operators, in an area with a strong demographic that will support the take up of the high-level apartment living.”
Guillaume Volz, Colliers
Noted as a key site in the Macquarie Park rezoning precinct, the property comes with a proposed FSR of 4:1 and 110m height limit (STCA), while also maintaining a substantial existing gross rental holding income of approximately $3.48m per annum.
Macquarie Park has benefitted from recent urban renewal with investment in infrastructure, such as the upgrade to the Macquarie Park Metro line, which has linked the precinct to the wider Sydney region.
This investment alongside the growing demand for accommodation close to employment centres and major transport corridors has transformed the precinct into one of the most sought-after areas for residents in Sydney.
A 100% interest in 44-50 Waterloo Road is being offered for sale via an International Expressions of Interest campaign closing on the 3 July 2024.
“This landmark development site represents the first Build to Rent opportunity of significant scale to be officially offered to the market for sale within the Macquarie Park precinct. The site’s corner location, three street frontages and immediate access to rail will make it highly sought after by many astute developers.”
Trent Gallagher, Colliers
Sydney’s housing market supply problems are widely reported, with a growing population and high rental growth exacerbating this issue. In 2023, NSW produced approximately six homes per 1,000 people, fewer than both Victoria and QLD.
