GPT Trades Rouse Hill Land for Expansion
GPT is embarking on a massive $300 million expansion of Rouse Hill Town Centre to exploit the anticipated boom from the Sydney Metro north west rail link due to open later this month.
The expansion will take over the land to the north of the existing centre and this week, GPT transferred 5.6ha of land between Rouse Hill Rd and Commercial Rd for $37.375M.
A master plan for this northern site is yet to be finalised but will incorporate a mix of residential, retail and community uses surrounding a new village green. A copy of the design statement is here
GPT submitted Development Applications for the expansion in December last year which will add a further 16,000sqm of retail space for 2 mini majors, 50 specialty stores and a leisure and entertainment space, along with a 4,500sqm commercial building and two residential towers containing 143 apartments. GPT expect the expansion works to commence in 2020 and be completed in 2022.
In 2015/16, GPT sold a 4,336sqm part of the site to Chinese company AUX Group for $23 million. GPT had earlier obtained approval for 152 units on those sites which abutted the existing Town Centre. A second sites of 8,013sqm on the corner of Commercial Rd and Caddies Ave was also earmarked for sale with approvals for 205 apartments.