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Overview
This property at 857-875 Canterbury Road, Lakemba, presents a rare and valuable residential development opportunity in one of Sydney's most accessible and connected suburbs. The site encompasses a substantial 2,087 square meter parcel, making it an ideal canvas for developers aiming to capitalize on its strategic location and favorable approvals.
Approved for development, the site includes plans for 52 residential apartments along with 3 commercial spaces totaling 626 square meters. Positioned along the bustling Canterbury Road corridor, this corner block offers three street access points, enhancing its appeal for mixed use and residential projects.
Beyond the physical attributes, the location benefits from a zoning of E3 Productivity Support, offering significant flexibility for future developments that may include residential, commercial, or combined uses subject to council approval. This allows potential buyers to explore various development possibilities that fit their strategic vision.
Accessibility is a major highlight for this site, with close proximity to major transportation routes including the M4, M5, and M7 motorways, facilitating convenient travel throughout Sydney. The property is well connected by public transport as well, located comfortably within walking distance to both Belmore and Lakemba train stations. Residents and future occupants enjoy easy access to Sydney's central business district, just 14 kilometers away. Additionally, major shopping centers such as Burwood, Hurstville, Roselands, and Bankstown are within a 15-minute drive, providing an array of retail, dining, and entertainment options.
The current rental income potential is estimated at $250,000 annually, underscoring the strong investment prospects alongside development opportunities. This makes the property attractive not only to active developers but also to investors aiming to unlock value in a rapidly growing corridor.
This opportunity is particularly suitable for residential developers seeking a ready-to-go project with approved plans and a prime location. It is also ideal for mixed-use builders targeting high-exposure sites along key arterial roads, as well as investors focused on long-term growth and redevelopment potential in a high-demand area.
In summary, 857-875 Canterbury Road offers a landmark site with exceptional development approvals, versatile zoning, a strategic location, and strong investment fundamentals. This property provides a unique chance to secure a significant parcel in a growth corridor with excellent connectivity and amenities, perfect for delivering vibrant urban living solutions.
Interested parties are encouraged to conduct their own due diligence to explore the full extent of the opportunities this property has to offer.
Local Market Insights
In Lakemba, Quiet Listings observed 7 new houses entering the market over the last 30 days, up from 5 during the previous 30-day period, with an average advertised asking price of $1,207,714. The property type mix of listed properties is predominantly Houses at 50%, followed by units (19%), and apartments (19%). Knapton Property Agents was the most active agency in this area, representing 28.6% of all new listings in the last 30 days. These insights are based on agencies currently monitored by Quiet Listings and are updated as the local market changes.
While every effort is made to ensure the accuracy and completeness of the property information provided, no guarantee is given. Buyers should independently verify all details, inclusions, availability, pricing, and other relevant information directly with the listing agent before relying on this information.
Location
Lakemba NSW 2195
Market Insights for Lakemba NSW 2195
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