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News release

Sydney

Residential development site sales ramp up in Kellyville

JLL sold $10.5 million of residential development sites in Sydney’s Hills District suburb, part of the North West Growth Corridor, during 2014 to date – with more in the pipeline


​SYDNEY, 25 April, 2014 – Residential development site sales are increasing in Kellyville due to limited undeveloped land available and its location within a strong growth corridor, according to commercial property agents.

JLL’s Director in Charge, Parramatta and Regional Director of Sales and Investments John Macree said $10.5 million of residential development sites have sold in the suburb of Kellyville in 2014 to date by JLL – and there is growing interest in land subdivision, not just high rise projects. 

“JLL recently sold a 2.02 hectare greenfield residential subdivision site on behalf of a private owner at 8 Gum Nut Close, Kellyville for $3.15 million, and a similar site at 151-171 Samantha Riley Drive, Kellyville on behalf of Sydney Water for $7.22 million.

“There is a significant level of developments awaiting approval in the area, with limited ‘greenfield’ (undeveloped) land available. In addition, Kellyville has been identified as a strong growth corridor. These two factors are making Kellyville an increasingly popular residential area.”

Part of the NSW Government’s North West Growth Centre , North Kellyville is located closely to existing residential areas as well as the new Rouse Hill Town Centre shopping centre.

“Both sales received significant levels of interest from a strong cross-section of developers and builders. We have found that developers are comforted by the strong pre-sales they are able to achieve,” said Mr Macree.

According to JLL’s Senior Negotiator for Sales and Investments Dylan McEvoy, a further factor drawing developer interest is the release of the Hills Shire Council’s ‘masterplan’ for the North Kellyville Precinct, which has made the development process more transparent.

Mr. McEvoy said the north-west growth corridor is spurring interest from a mix of statewide developers, local developers and builder/developers. “We are seeing a growing trend of medium to high-density developers diversifying and now looking at subdivision opportunities – the fact that North Kellyville is part of the North West Growth Centre is amplifying interest.” The Government’s Infrastructure projects such as the North West Rail Link and Schofields Road upgrade have also contributed to demand.  

According to the Hills Shire Council’s public masterplan for Kellyville Park , the proposed future park will include features such as a new access road, a new centralised parking area, a new amenities building and new multi-purpose playing fields at the Memorial Avenue end of the park.