A large DA approved residential development site in Western Sydney has sold for $80 million. 

Located at 14 Schofields Road, Schofields, the 12ha site was marketed by RWC Western Sydney managing director Peter Vines, and director Victor Sheu. 

The property is development approved for 1381 units across 17 buildings, and is located moments from Schofields station and shopping amenities as well as Rouse Hill Town Centre.

The site is situated within an area that has become home to vibrant communities from India and Nepal, which represent a significant portion of immigration into Western Sydney.

The property was bought by a Sydney-based developer, who has plans to build out the approved apartments, further contributing to the area's housing supply and meeting the needs of a growing population.

Mr Vines said it was one of the largest apartment sites to transact in Western Sydney in the last 12 months. 

“With the current housing crisis there is a huge demand for more apartments in the area,” he said. 

“This development will help address that need, particularly in a region where many immigrant communities, including those from India and Nepal, are rapidly expanding. 

“Buyers saw an opportunity to capitalise on that demand and provide much-needed accommodation for the growing Western Sydney population.”

More RWC Western Sydney readings 

Peter Vines and Ruby Rozental continue to grow with RWC | Commo.

Western Sydney dominates Industrial Investment – RWC Western Sydney | The Industrialist

RWC celebrates 2024 award winners

More RWC readings;

975 ha Double Beach Estate Geraldton Western Australia for sale through RWC WA  | The ASEAN Developer

Cape Bouvard Halls Head site sold to local developer - RWC WA | The ASEAN Developer

Landmark Logan site for sale in SEQ - RWC | The ASEAN Developer