The Gandangara Land Council is selling a 14.6 hectare site at Barden Ridge which has a development application to be subdivided into 134 resident lots.
The land at 290 New Illawarra Road, Barden Ridge is adjacent to the Lucas Heights Community School.
The land council has lodged a development application for the subdivision with Sutherland Shire Council with a decision still pending
The site is being marketed by Raine & Horne Commercial Sutherland and is expected to sell for $45 million and which will achieve overall sales of over $100 million for the purchaser.
Raine & Horne Commercial Sutherland selling agent Anthony Bouteris described it as the most significant site offered for sale in Sutherland Shire since the Greenhills release.
He said the site has already received substantial offers from a number of overseas and local developers.
The land is zoned E4-Environmental Living which allows low-impact residential development. It has a 515-metre frontage to New Illawarra Road and a 400-metre frontage to the Woronora River.
Mr Bouteris said the developer would be able blocks for around $700,000 each.
Gandangara Land Council chief executive officer Paul Newman said the council’s board had decided to sell the land to help finance its business activities.
“As part of our four-year Community Land and Business Plan: 2016 to 2020, we looked at investment options and we put in a DA to Sutherland Shire Council to subdivide the property,’’ he said.
“We will use the proceeds from the sale to help finance our business activities such as our community housing, cultural and heritage programs.
“We also operate a community transport service to support older members of the local Aboriginal and non-Aboriginal communities and we are the only land council who operates a privately-owned medical center in Australia.
“The proceeds from the sale of the Barden Ridge property will support these services.’’
The land for sale is part of a larger parcel of land of 34 hectares with the remaining balance to be retained by the land council.
Expressions of interest close on September 21.
Last year, NSW Planning Minister Rob STokes announced the rezoning of 23 hectares of bushland at Meani West owned by GLALC for low-level housing.
This amounted to 320 new homes or about 10 per cent of the original proposal for the Heathcote Ridge development.
The land council originally asked for the rezoning of 236 hectares of residential land to accommodate 2700 homes, 70 hectares of employment land and 514 hectares of conservation land.
Earlier this year, the NSW Independent Commission Against Corruption (ICAC) held a public inquiry into the operations of the Gandangara Local Aboriginal Land Council (GLALC).
The inquiry examined the land council’s former chief executive Mark “Jack” Johnson and other witnesses, looking at Mr Johnson’s expense claims including travel within Australia and overseas.