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Sydenham to Bankstown Urban Renewal Corridor

Discussion in 'Where to Buy' started by Moltzerman, 29th Jun, 2016.

  1. Moltzerman

    Moltzerman Active Member

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    Sydney
    I think right now would be a good time to invest along this whole corridor before prices hike up. The new Sydney Metro from Rouse Hill to Bankstown will be the catalyst for rejuvenation. Some suburbs will be rezoned up to 25 storeys. Marrickville and Dulwich Hill will attract the big ticket developers as its close to the city and already well-established high demand suburbs. Canterbury, Campsie and Belmore will also prove popular. These suburbs were nominated by former Canterbury Council as priority precincts.

    Buy now, sell later?
    Invest now?
    Which suburbs will offer the best return value based off the current prices?

    Within 400m of the station, there are ample opportunities for high rise rezoning.
     
  2. bumskins

    bumskins Well-Known Member

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    There's already a train line there, and metro is a very long way off. Also any zoning changes they want to have come-in with Metro, they should be able to justify now.
    A big thing for a few of the area's mentioned is just how anti-development they have been in the past.
    Having the Liberal's in State Government, and possibly the removal/merging of councils could be seen to have more of an effect in the short/medium term.
     
  3. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    I have a slight bias due to awareness (I'm own 3 x 1960s apartments within 350m of Dulwich Hill station) but I feel Marrickville and Dulwich Hill will be among the star performers due to proximity to city, existing transport infrastructure, relentless gentrification and future money.

    The Carrington Road precinct will transform from industrial to residential/mixed use (over 20 hectares). That's massive.

    Marrickville alone has 4 train services (Marrickville, Dulwich Hill, Sydenham, Tempe all in or within a few mins walk of its bounds), multiple citybound bus routes and the south west pocket borders the Dulwich Hill light rail.

    Epic new library on the way.

    Significant upgrades to Marrickville Metro shopping centre.

    Heaps of parks, sports fields, bike paths etc and the Cooks River.
     
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  4. Depreciator

    Depreciator Moderator Staff Member

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    If you have a drive around those suburbs you will find that the 'big ticket developers' have many projects underway already. They would have been acquiring sites a few years ago - around when my favourite big hardware store at Canterbury got demolished.
     
  5. Moltzerman

    Moltzerman Active Member

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    Sydney
    I like the vast array of dining options in Dulwich Hill and Marrickville these days. Mirvac sent a proposal for part of the Carrington Rd Precinct to rezone for high density uses. And so did the owners of a large parcel industrial land adjacent to the railway. I think Marrickville will offer much better future high rise vision compared to Dulwich Hill, which has fierce local opposition.

    I heard about Aldi Canterbury proposing a 22 storey development, and Canterbury Racecourse earmarked for redevelopment as well. :eek:
     
  6. Depreciator

    Depreciator Moderator Staff Member

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    That Carrington Road area is down the hill from me - we call it the 'lowlands'. There are some very shabby industrial buildings down there along with one big, nice, old one. I suspect the good one will be kept and incorporated into the new stuff. But that area floods every time there is a big storm that coincides with a big high tide (Cooks River). It happens once a year. Not raging floods - bonnet high stuff. There are businesses down there that have sand bags at their roller doors ready to put down. I know a few artists down there in the shabby buildings and there are marks on the walls where the recent floods have reached - before the storms a few weeks ago, the SES guys went down on the Friday and warned them all to get everything up on benches. When the developers move in, I'll wander down first big storm and see how it's going - especially with the inevitable underground parking.
     
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  7. Tekoz

    Tekoz Well-Known Member

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    This area is already expensive now as it is today, how can this be more expensive again ?
    considering the foreign investor is getting more difficult recently with additional taxes introduced by the govt.