A 737-hectare cattle property held for three decades has been put up for sale in Sydney’s North West Growth Area, with part of the historic holding carrying the potential for almost 600,000sqm of industrial floorspace and an end value of around $3 billion.
One of the largest remaining privately held landholdings in Sydney’s North West Growth Area has hit the market, opening up a rare opportunity to secure development scale in one of Western Sydney’s major future employment corridors.
Garfield Pastoral Holdings has appointed CBRE to sell the 737-hectare Echo Vale property at Marsden Park, where cattle have been grazed and bred for the past three decades.
At the heart of the opportunity is 128.7 hectares of land with significant future industrial development potential.
According to CBRE, that land has the ability to accommodate approximately 594,450sqm of future industrial floorspace, with an end value of circa $3 billion, subject to planning approvals.
CBRE’s Jason Edge and Cameron Grier have been appointed to manage the Expressions of Interest campaign, with the agency expecting interest from major domestic and offshore capital looking for long-term exposure to Western Sydney’s industrial growth.
Mr Edge, CBRE’s National Director, Capital Markets Industrial & Logistics, said opportunities of this scale were exceptionally rare.
“Opportunities of this scale and strategic significance are exceptionally rare in Sydney. Echo Vale sits at the heart of one of Australia’s most important future employment and logistics corridors and offers investors the ability to secure a market-defining position in a tightly held location,” he said.
“The combination of scale, planning momentum and major infrastructure investment creates a compelling proposition for investors, developers and occupiers looking to establish a long-term presence in the region.”
The property forms part of the proposed Marsden Park North employment precinct, which is expected to support almost 3,900 jobs.
Its future development will also benefit from significant road infrastructure upgrades, including the Richmond Road upgrade, Charles Tompson Boulevard intersection works and the future Bandon Road corridor.
Echo Vale is located approximately 45km north-west of the Sydney CBD and 26km from Western Sydney International Airport.
CBRE Regional Director, Pacific Leasing & Sales Industrial & Logistics Cameron Grier said its position and infrastructure connections differentiated the property from other development opportunities.
“Echo Vale represents what Mr Grier described as the largest remaining industrial development opportunity of its kind within the Outer North West precinct. The site’s direct frontage to Richmond Road, access to the M7 motorway and connection to a range of major infrastructure projects position it at the centre of Sydney’s next phase of industrial and logistics growth,”he said.
“With employment land supply becoming increasingly constrained across Western Sydney, we expect the opportunity to resonate strongly with both domestic and international investors seeking scale and future development certainty.”
Behind the development opportunity is more than a century of agricultural history.
The land originally formed part of a broader pastoral holding linked to the former Riverstone Meatworks, which was acquired by William Angliss in 1919 before passing into the ownership of the British Vestey family in 1934.
During much of the 20th century, the Vestey interests operated the Riverstone meatworks and managed extensive surrounding grazing land.
Those holdings were progressively divested through the late 1980s and 1990s, with parts subsequently transformed into residential communities including Windsor Downs, while other parcels remained as large rural properties within Marsden Park.
Garfield Pastoral Holdings acquired Echo Vale in 1996 and has continued cattle grazing and breeding operations across the property for the past 30 years.
Now, its position within Sydney’s expanding Outer North West corridor has put the historic property on the radar for an entirely different future, with expressions of interest close October 22.