THE Kirrawee brick pit site, which has been approved for a major residential and retail development, is up for sale.
Owner Henroth Investments is seeking a company with experience in similar large-scale projects to either buy the property or enter into a joint venture.
The Planning Assessment Commission approved the company’s concept plan for 432 apartments in nine buildings above a shopping centre last August.
Simon Muirhead, divisional director for selling agent, Savills Australia, said there had been ‘‘a very good response’’ to pre-marketing and advertisements in major newspapers on the weekend.
‘‘A lot of major players in the property industry are looking at it,’’ he said. ‘‘[Henroth Investments] are not specialist residential developers and they are looking to either sell or partner someone with expertise in large-scale developments.
‘‘Like everything, it’s an asset.
‘‘They acquired it six or seven years ago and it went through a very difficult DA (development application) process and they are looking to capitalise on their investment.’’
Expressions of interest close March 27.
Savills’s advertisement said there was likely to be strong demand from tenants for the shopping centre, which had approval for two supermarkets, specialty shops and parking for 1150 vehicles.
A news release said ‘‘public access will be provided to a 9000-square metre park with a lake, as well as pedestrian and cycle pathways’’.
‘‘The planned retail component of the site will provide an attractive shopping destination for the local community, with a focus on everyday convenience-based retailing and will include an open-air dining and cafe precinct with adjacent piazza,’’ it said.
‘‘The piazza will provide a unique alfresco ambience.’’
PRICE ‘TOO HIGH’
Sutherland Shire mayor Kent Johns said the council couldn’t afford to buy the site.
He was responding to a letter to the Leader from Kirrawee resident Robyn Galvin, who saw the site advertised in the The Sydney Morning Herald.
Mrs Galvin and her husband John said it was a great opportunity for the council to purchase the property and develop it for shire residents.
She said a new entertainment centre could be provided and the existing centre sold for home unit development to help fund the project.
Mrs Galvin said site could include housing and a smaller shopping centre while a slip-road entrance and exit from Princes Highway could be provided instead of taking parking from businesses in Flora Street.
Councillor Johns said the previous council zoned the site and the state government approved a major development. He said the the asking price ‘‘would be well out of the range that council could afford’’.
Should the sale be a cause for concern?
