Read more: http://www.afr.com/real-estate/first-oneline-15house-sale-for-sydneys-northwest-20151220-glrt3c#ixzz3uv4p5WQA
The booming north-west in Sydney has closed its first one-line sale of 15 houses in Castle Hill since the announcement of the new $8.3 billion Sydney Metro Northwest and the NSW government's growth plans for the corridor.
The properties on Cecil and Roger avenues totalling more than 14,000 square metres in land size were sold for an undisclosed price. But based on previous offers, houses in the area were expected to fetch up to $4 million each in one-line sales.
The 36-kilometre metro train line and the state's growth strategy have ignited development in the north-west as it undergoes rezoning for high density living to accommodate the increase in population. Castle Hill is one of the eight new metro stations on the line.
Details of the buyer at Cecil and Roger avenues were confidential, but sources have indicated it is a local developer.
The agent who brokered the sale, Tracy Yap Realty Castle Hill's Danny Yap and Tracy Yap declined to comment on the details of the sale but said it was a "record price for the Hills district".
"It's the first significant unconditional sale of a group of residential properties in Castle Hill," Mr Yap said.
"Previous sales were all through options which were conditional and none grouped this many home owners together. There are many syndicates on the market now for many months but none have achieved a sale."
Parts of Castle Hill are undergoing new planning but Cecil and Roger avenues have already been rezoned under an older plan, the 2012 Hills Local Environmental Plan.
The site has two zonings, R1 which allows apartments and R3 which allows multi-dwelling housing in the form of townhouses or villas, but not apartments.
It is a 10-minute walk to the train station and Castle Towers Shopping Centre, which is undergoing a $900 million billion redevelopment.
