Parklea Markets listed for sale with major redevelopment potential
Parklea Markets’ future is up in the air as it has been listed for sale with high development potential.
The biggest marketplace in the Southern Hemisphere, Parklea Markets, faces an uncertain future as owners move to sell the popular shopping destination in Sydney’s biggest growth area.
Arguably Sydney’s most iconic market – a treasure trove of international food, fashion and bargains – has been listed with a strong focus on the redevelopment capacity, suggesting the cherished community hub could be cleared for much needed housing stock.
The landmark spans 21.76ha market and the marketing states that it has “site-specific rezoning potential backed by NSW Government planning pathways,” with “strong redevelopment potential in one of Sydney’s fastest-growing corridors”.
Parklea Markets has been listed for sale.
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The market building spans 20,960 sqm, with two additional land parcels that include an overflow carpark that is 3.156ha; vacant land for 5.343ha; and the service centre which is 2.441ha.
Parklea Markets is located on the corner of Sunnyholt and Old Windsor roads at 601 Sunnyholt Rd, Glenwood.
The unknown future of the marketplace could however leave the 893 stalls currently in the building and its business owners and workers in the lurch.
Parklea Markets is known for its big food selection.
Currently Parklea Markets is anchored by a Service Centre that includes Ampol, Hungry Jack’s, KFC and Outback Steakhouse with the listing suggesting they are “to be retained”.
But what is to come of the rest of the market is yet to be confirmed.
The markets were previously sold in 2016 via Colliers and sold to development company Dyldam Developments for more than $80,000, according to reports at the time, which said it was set to undergo a $1 billion refurbishment within eight to 10 years.
A huge land holding in Sydney’s biggest growth area.
Dyldam has since collapsed with their last project completed in 2020, where the company owed more than $280 million, leaving the bazaar to remain as is, running as an iconic shopping destination where buyers can find toys, kitchenware, fresh fruit and vegetables, international food, cosmetics and more.
The sale is being marketed by CBRE and Colliers agents Matthew Meynell and James Cowan who have been contacted for comment.
