The agreement is subject to a number of conditions, including:
Located in Sydney’s North-West Growth Centre, the site, which is approximately 153 hectares, is currently zoned rural residential and was released for planning under the NSW Government’s Precinct Acceleration Protocol in June 2014.
Sitting within the Marsden Park North precinct, the site is approximately five kilometres north-west of Rouse Hill and 12 kilometres north of Blacktown, and benefits from close proximity to Riverstone train station, Richmond and Windsor Roads and the M7 Motorway.
Local amenities include nearby sporting ovals, golf courses and schools as well as Rouse Hill Town Centre. Local amenity will increase further as the Marsden Park and Marsden Park North precincts are developed.
General Manager, Masterplanned Communities, Toby Long, said “This agreement provides Mirvac with a great opportunity that aligns with our strategy to deliver masterplanned communities in the urban edge.
“The Marsden Park project will allow us to secure a solid pipeline in the growing North-West corridor, and follows our ongoing success at Alex Avenue in Schofields."
Provided conditions are satisfied, the development is expected to yield in excess of 1,200 residential lots and commence within the next four years.