NSW’s last surviving reservoir tower sells for $3.75m

The heritage-listed Drummoyne Reservoir has found a buyer, selling for $3.75 million. 

The 1802sqm site which was owned by Sydney Water had generated plenty of public interest due to controversial circumstances surrounding the sale.

No information on the new owners has been revealed, with a spokesperson for Sydney Water releasing a short statement to confirm the sale.

Commercial Insights: Subscribe to receive the latest news and updates

“The site is under settlement and we’ll be able to provide more details once the sale has been finalised,” it says.

It is in a prime position in the heart of Drummoyne.

Built in 1913, the reservoir is the last with a surviving tower in NSW. It was decommissioned in 1965 and has been used as a reserve tank since.

The City of Canada Bay Council initially launched a petition calling for Sydney Water to allow them to take control of the reservoir and fund a restoration project.

It was later revealed that Sydney Water had offered the site to council for below the market value but no response was heard.

The tank can hold one million gallons of water. (AAP IMAGE/Danny Aarons)

The tank can hold one million gallons of water, which works out to be around the equivalent of one-and-a-half Olympic-size swimming pools.

The property was sold by CBRE Western Sydney agents Peter Vines, Simon Spicer and Victor Sheu.

This article from the Inner West Courier originally appeared as “Drummoyne reservoir sells for $3.75m to unnamed buyer”.