https://www.domain.com.au/news/cast...naires-after-40m-megalot-sale-20170216-guez0p @Jacque, @Jennifer Duke, @euro73
Yep...Castle Hill is certainly going gangbusters - especially in the apartment market. Houses are pricey (ish) , but apartment growth is outperforming houses . I bought a nice 2 bed, 2 bath in a boutique development of 10 on Cecil Avenue - short walk to mall and new rail ... has a huge balcony and I lucked out by getting a large rear courtyard due to a developer mistake with the common area on the contracts .... paid 620K. Valued at 800K on completion but given whats being sold at the moment I think its worth mid - high 800's + if I were to sell it today - going by these examples anyway 6/33-39 Cecil Avenue Castle Hill NSW 2154 - Apartment for Sale #124724750 - realestate.com.au And look at these crazy prices.... 1306/299-309 Old Northern Road Castle Hill NSW 2154 - Unit for Sale #124746166 - realestate.com.au
I own a 2 storey office unit in Castle Hill (2 x 110sqm dual occ setup, single tenancy leased to my IT biz) in my SMSF. Its done well since purchase, the recent zoning changes have really increased redevelopment. The Roche building + complex next door where Jaycar and mower shop was is now all vacant pending redevelopment.
Sister sold a townhouse a stone's throw from the shopping centre perhaps in 2014.... they should have kept and held it. But they've doubled their money on the house they upgraded to, so it's still ok, and the only mortgage they would have now is for some renos they did (the renos weren't entirely necessary to do, but it made it nicer). A strong position to be in, as tail end of Gen X people. Anyway, all my sisters are doing fine.
Nice complex you own in Dave !! There are still a couple for sale at really good prices I noticed yesterday ! I saw where jaycar is etc all vacant.Do you know what is going there?All commercial??
If you mean the jaycar off Victoria Avenue, I believe it's going to be a luxury car retailer. Not 100% sure though
Another two words...Too Late or Missed Boat I've lived in Castle Hill (or surrounding area) for the last 33 years and have lived through all the changes. IMO it's peaked and developers are now bulking at the prices. Two of my friends were fortunate enough to own in the Middleton Rd development area who bought 6-7 years ago for $600k & $800k, both have now signed options for +/- $4mil. I also had a development site on Cecil Ave for sale in mid 2014 where the multiple owners wanted $12mil and the highest offer I could get was $11.8. They decided to sit tight and sold mid last year for a tad over $18mil
And only several years ago it's not the preferred area! Know several people who get pushed out of Sydney and ended up around the hills area.
If only.... Back in 2010 after i built my granny flat, I was looking for a 2nd site. Thought about Castle Hill, but given there weren't many units in the area, i figured there wouldn't much demand for a 2 bedder. Why did i listen to myself.... If only......
When Australia's largest public transport project is being built on your doorstep it makes sense that growth is coming. Though the areas around the Hills stations have experienced higher cap growth rates than other Sydney suburbs during the same period (in particular 2013-2016) it wasn't entirely unexpected. For those of us who live and work here, the writing was on the wall. Castle Hill has always been a lovely suburb and area to live, and will be even more sought after once the automated rail (a train every 4 mins in peak hours) is up and running in early 2019. Very exciting for this area
Hello there Jacque, How about that house which sold on "The Renovators" back in 2011 for only $620k ... I keep thinking what would that be worth now! David
It has been a lovely area, just not so sure it will continue to be. High density housing, train station & massive shopping centre doesn't sound attractive to me. I'm starting to sound like a cranky old man
Yep @Perky29 you should have bought it LOL We've bought SO many properties since that one it's all but a distant memory now Ah hindsight hey?
I was thinking exactly this as I read the article! Attractive now maybe but all that high density living...
I'm of the understanding where Jaycar, tyre shop, lawn mowers and drug dealers were is going to be a Mercedes dealership. Pretty sure the Hills Shire is no longer the "garden shire". So many apartments being built and the local member under investigation for donations from developers.
Interesting....Seems the lawn mower complex was sold in 2015 and the Roche site was sold in 2016. Cant find much info on a Mercedes dealership but did find a DA approval for a change of use from warehouse/office to vehicle warehouse. Didn't realise they had all closed down...I'll have a to check it out tomorrow when taking the kids to indoor soccer around the corner. The new owner of the Jaycar site is CHMD Developments Pty Ltd.....Cant find any info on them but it could be Castle Hill Mercedes Dealership ??????
i remember my cousins selling there mansion in castle hill about 20 years ago, and i can still recall as a 15 year old... why? no!!!, i wanted to buy it but unfortunately i had no chance and no money haha i think it was around the 500k mark back then - 8 bedrooms 6 car garage 4 levels down a hill backing onto bush land... i still wonder about it today
