A vacant plot of land with flexible zoning and a location just 70 metres from Hornsby Westfield has sold for $1.1 million to a private investor, in a sign of continuing demand for quality property with development upside.

CI Australia’s (CI) Andrew Hunter, Addison Hunter and Shirley Fan negotiated the sale of 188 Pacific Highway, Hornsby, on behalf of Transport for New South Wales. A number of owner-occupiers, boutique developers, builders and local investors enquired on the campaign.

“Many were attracted to the site’s flexible B6 – Enterprise Corridor zoning, its proximity to Hornsby Railway Station and retail area, together with its high-profile frontage to the Pacific Highway,” said CI’s Andrew Hunter.

He continued, “As the Sydney investment market embarks on its recovery from the impacts of COVID-19, it is the amenity-rich suburban markets such as Hornsby that are showing very promising signs for the year ahead. Adding to this is the accessibility of assets within the sub-$5 million range which appeal to a broader range of buyers in the current economic climate.”

The site is located just 500 metres south of Hornsby Train Station and offers immediate access to public transport, major roads, retail amenities and high-performing high schools. The recent completion of the NorthConnex Tunnel has improved accessibility in and out of the area, particularly to the North Shore and the CBD.

The asset was sold via public tender in late December 2020.