CONTACT US
Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting cushmanwakefield.com to read:%0A%0A {0} %0A%0A {1}

Planning meets opportunity: Stanmore development site takes centre stage amidst housing crisis

Jess Freeman • 06/05/2024

The Stanmore Collective-Sydney.jpg

photo: 58-76 Stanmore Rd aerial marked

As the State Government continues a series of planning reforms amidst a housing supply crisis, a rare opportunity has emerged in the heart of Stanmore, with the announcement of the sale of a coveted mixed-use/residential development site located at 58-76 Stanmore Road, just 6kms south west of the Sydney CBD.

Owned by The Cyprus Community Club, this expansive 9,140 sqm* site is poised to attract a diverse pool of buyers, ranging from residential developers to student accommodation providers, affordable housing advocates, build-to-rent operators, private hospitals, and education institutions.

Boasting three street frontages, the site presents an unparalleled opportunity for developers to capitalise on its premium location and proximity to a wealth of amenities. 

For sale through Tom Barnier, Kieran Tsipidis, Tim Cassidy, and Fab Dalfonso of Cushman & Wakefield, the site has the potential to satisfy the alarming lack of residential stock in the inner west, where the supply has remained stagnant for 3-8 years. 

Commenting on the significance of the site, Tom Barnier remarked, "This is undoubtedly the best development site in the inner city of Sydney. The scarcity of residential stock in NSW has created immense demand for opportunities like this."

According to data from CoreLogic RP Data, the location of the site in Stanmore is particularly attractive, with median prices for existing apartments reaching $840,000, while houses command an average of $2,190,000—an indication of the strong demand for residential properties in the area. It is anticipated there will be a greater adoption for apartment living due to the 61% difference in price, further fueling the rise in apartment values (new two bedroom apartments in Marrickville - 1.6km from Stanmore are now achieving $1,300,000).

In line with the 2022 NSW Population Projections, NSW will need to house an additional 85,000 people every year for the next 20 years. By 2041, the population is expected to reach 6.1 million in greater Sydney, resulting in an additional 904,000 homes over the next 20 years to house this growing population.

Kieran Tsipidis added, "We're witnessing a resurgence of offshore capital flowing back into Australia, particularly in the student accommodation sector, which is experiencing a significant uptick in demand."

The decline in the value of the Australian dollar has rendered tuition fees more accessible for potential international students. Moreover, the decreased value of the Australian dollar has affected accommodation and living expenses. With a softer currency in a global setting, relative expenses for housing, meals, and daily necessities become more advantageous, bolstering the appeal for international students. 

This increased affordability significantly contributes to drawing students from around the globe to pursue educational opportunities in Australia, with 9 Australian universities ranking in the global top 100.

“There are positive market conditions for interested parties to leverage off the governments recent reforms, which ultimately reflects the demand in the market” said Mr Tsipidis, with Mr Barnier adding, “The lack of medium and high density completions in recent years has exacerbated the affordability crisis, making this development site a highly sought-after investment opportunity”.

The recent acquisitions in Sydney's inner west precinct, particularly the $300 million investment in Kings Bay, Five Dock, and Dasco's $128 million acquisition in Waterloo, underscore the market's depth and investor confidence in these prime locations. 

With their strategic positioning and potential for development, sites of scale in the inner west precinct have become highly coveted assets among investors seeking to capitalise on the area's growth and urban revitalisation.


About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit www.cushmanwakefield.com.

How can we help?

Get in touch with one of our professionals.

RECENT NEWS

575 Church St Richmond_card
Gold-standard corner freehold hits the market in Richmond’s booming furniture precinct

For the first time since 1966, a prized corner freehold in the heart of Richmond’s Church Street furniture precinct is being offered to the market - presenting a rare opportunity for investors, owner-occupiers and value-add buyers alike.

Jess Freeman • 01/07/2025

Harrington Collection.jpg
Iconic harbour-side office acquired by leading national law firm

An iconic Sydney office asset at 85 Harrington Street, The Rocks has been sold to a prominent national law firm, marking a significant transaction in the Sydney CBD market.

Jess Freeman • 30/06/2025

206 Bourke St., Melbourne card image
Six-storey retail complex in Melbourne’s CBD fetches $80.1 million

A prominent retail property in the heart of Melbourne has sold for $80.1 million.

 

Jess Freeman • 30/06/2025

office-card.jpg
Looming 2m sqm Lease Expiry to Test Sydney and Melbourne CBD Office Demand

Australia’s largest CBD office markets are poised to enter a crucial period, as structural shifts in tenant demand, preferences and return-to-office strategies collide with a wave of upcoming lease expiries in Sydney and Melbourne. 

Jess Freeman • 27/06/2025

322-332 St Kilda Road VIC.jpg
Developers eye St Kilda Road supersite as residential & commercial demand surges

A major amalgamated landholding on one of Melbourne’s most recognisable boulevards is set to hit the market, presenting an opportunity for residential developers, hotel & serviced apartment developers and commercial owner occupiers to secure a high-exposure site in the heart of St Kilda.

Jess Freeman • 23/06/2025

With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes.

Alternatively click on More Options and select your preferences before providing or refusing consent. Some processing of your personal data may not require your consent, but you have a right to object to such processing.

You can change your preferences at any time by returning to this site or clicking on Privacy & Cookies.
MORE OPTIONS
AGREE AND CLOSE
These cookies ensure that our website performs as expected,for example website traffic load is balanced across our servers to prevent our website from crashing during particularly high usage.
These cookies allow our website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced features. These cookies do not gather any information about you that could be used for advertising or remember where you have been on the internet.
These cookies allow us to work with our marketing partners to understand which ads or links you have clicked on before arriving on our website or to help us make our advertising more relevant to you.
Agree All
Reject All
SAVE SETTINGS