News
Market update
The Rouse Hill Industrial area has had a lot of movement within the last 12 months. The improving industrial market for building stock has meant more demand for land within Western Sydney and particularly Rouse Hill.
The closest large industrial area, the Castle Hill Trading Zone has seen a dramatic decrease in available stock of buildings which is requiring business owners and investors to look further afield. The strength of the CHTZ is key in the development of Rouse Hill. With a lack of available land in Castle Hill and strong business confidence, the signs are pointing to more potential development in the near-term.
This change in market conditions has been evidenced by the recent sales of land in the Money Close sub-division. This sub-division of 8 land lots had been on the market for a number of years, with only 1 sold. From September last year, the remaining 7 lots have been sold to a mixture of developers and owner occupiers.
8 Money Close – Earthworks have commenced on this 12 unit development and will be the first strata development since 322 Annangrove Road was built in 2007. Expected completion in mid-2016.
4 Money Close – A DA has been lodged for 10 industrial units, with completion in late 2016.
3 Money Close – It is expected that a development of industrial units is likely to be lodged soon.
320 Annangrove Road – Marketing has commenced on these industrial units based on an existing DA.
334 Annangrove Road – A DA has been lodged for 162 Residential units and 30 Business/retail units. This development application is in the B6 – Enterprise Corridor, Edwards Road sub-precinct. It will be interesting to view the success of this application given council are in the process of removing “shop top housing” from the allowable uses.
The residential market is also helping the industrial market. With more families located near Rouse Hill and certainly more to follow, demand for industrial space is increasing in the area as people wish to work closer to home. Unfortunately the strain on the building industry, from all the residential construction has made the cost of building quite expensive, so developers are still finding it difficult to make sites “stack up”.