Gladesville warehouse to transform block of units in $13m development opportunity
363 Victoria Rd, Gladesville NSW
Local property investors and developers in Sydney’s lower north shore are gearing up for a busy year, with the first development project hitting the market.
Situated at 363 Victoria Rd in Gladesville, the 1,650 sqm site has price expectations around $13m.
The Gladesville site has received approval for the construction of 47 units, 533 sqm of ground floor retail/commercial space and 85 car spaces.
An artist’s impression of the development site in Gladesville.
Dwelling options include a mixture of 22 one-bedroom apartments, 18 two-bedroom apartments, and seven three-bedroom apartments.
The sale is being managed by CBRE’s Toby Silk, Aaron Arias, Robert Dowdy, and Nicholas Heaton, with the expression of interest campaign closing on the 22nd February.
The site currently exists as a freestanding industrial building with a six metre clearance, corporate offices, and amenities.
Mr Silk said Gladesville was well known for its parks, schools, and friendly community.
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An aerial view of the Gladesville site.
“We expect the property will attract strong interest from industrial occupiers and developers alike. Gladesville is in Sydney’s heart and with a median house price of $2.48m, the development presents a great opportunity to capture buyers whose budget doesn’t stretch this far,” he said.
“The site has been granted development approval for a brand-new residential project, meaning the project can proceed to construction once a construction certificate has been issued by local council.”
Location is a major selling point for the development site, with access to public transport, roadways, and local amenities.
The development aims to capture buyers who can’t afford the suburb’s $2.48m median price.
It is also situated between commercial hubs the Sydney CBD, North Sydney, Chatswood, Parramatta CBD and enjoys a dual street frontage to Victoria Rd and Westminster Rd.
“Being on a prominent corner location, the development has been architecturally designed by well-regarded Mackenzie Architects with oversized, open-plan, modern apartments orientated to maximise natural light and outlook,” Mr Arias said.
“With the Gladesville property market on the rise, this development site will generate strong interest from developers and investors looking to capitalise on the growing demand for property in the area.”
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