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News release

Sydney

Frenchs Forest to get an upgrade

The planned infrastructure around the new Northern Beaches Hospital is set to gentrify the area, with increased property activity to follow


​SYDNEY, 18 APRIL 2015 – Planned infrastructure around the new Northern Beaches Hospital is expected to have a positive impact on property activity in the area, with Frenchs Forest anticipated to undergo a process of gentrification in the coming years. 

The latest property sale in the area was at 18 Rodborough Road, Frenchs Forest. The 3,435 square metre office building sold in an off-market deal for $9.6 million with a net yield of circa 10 per cent. JLL’s Director of Metropolitan Sales & Investments for NSW, Paul Hunter, and JLL’s Director of Industrial for North Sydney, Ben Byford, managed the sale of the property on behalf of a private investor to PAIM Pty Ltd.

Mr Hunter said the property achieved a solid sale price given the anticipated increasing value of the wider area, and the security of current long-standing tenants including Conair, who has 1,250 square metres of space in the office building.

“The Frenchs Forest area is undergoing an upgrade, with roughly $400 million in road infrastructure works planned to reduce traffic congestion, including overpasses.

“This area is becoming increasingly sought-after by investors who are looking at the long-term, projected growth for Frenchs Forest, taking into account planned infrastructure around the Northern Beaches Hospital.” 

The Northern Beaches Hospital project is already well underway, and is expected to be completed during 2018. Proposed road infrastructure upgrades include areas of Warringah Road, Wakehurst Parkway, Naree Road and Frenchs Forest Roads. 

According to Mr Byford, rents and capital values have been fairly stagnant in Frenchs Forest area over the past decade. “However, this is likely to change with the arrival of the hospital and draft Local Environmental Plan with mixed-use zonings due to go on public exhibition in the coming months. Now is the optimum time to buy in the area. When the hospital is complete we anticipate values will have already grown significantly,” Mr Byford concluded.