Metro Property Group (Metro) has purchased two additional prime assets from Lendlease in Bingara Gorge, a prestigious master-planned community in the suburb of Wilton in Sydney’s South West.
Spanning 90 hectares, Metro acquired the 18-hole championship golf course, designed by ex PGA professional Graham Marsh as well as a 4,760 sqm parcel of land, set aside for a Country Club plus land for parking directly adjacent to the club.
The newly acquired assets follow Metro’s purchase of the balance of development approved land in Bingara Gorge in June 2021 from Lendlease, touted as one of the country’s biggest acquisitions in the residential land market last year. Following launch of the project in 2008, Lendlease developed 900 land lots with the remaining 900 to be developed by Metro.
Luke Hartman, Owner of Metro Property Development comments, “Metro purchased these important community assets to complete the vision for Bingara Gorge to create a world-class residential estate featuring a Graham Marsh 18-hole golf course and club facilities.
“These newly acquired assets will complement the existing state-of-the-art community facilities in Bingara Gorge, further adding value for our residents in delivering a liveable and connected community.”
He added, “Bingara Gorge is strategically positioned to capitalise on the burgeoning South West Growth Corridor with multi-billion dollar investment in the region from the private sector, local and federal governments. Demand is outstripping supply for land in this area. The Bingara Gorge land acquisition further adds to our land bank to take advantage of strong market conditions.
“We currently have 25 projects underway with more acquisitions planned and will continue to restock in strategic growth corridors across Australia.”
All 18 golf holes have been constructed with only the back nine currently in play. Construction will start on a golf bridge to link the front nine and back nine holes in the first half of 2022 with completion by late 2022, enabling all holes to be open for play.
Prominent hotelier, The Feros Group will run the contemporary Country Club comprising a restaurant and bar, outdoor bar area and internal function space. Designed by an award-winning Sydney based design practice H&E Architects, the venue will seat between 800 – 1000 people. The development application is expected to be lodged in March 2022.
Jeff Atkinson, Project Director for Metro Property Development comments, “The opportunity to acquire 900 development approved land lots, in one of Sydney’s fastest growing regions is paying dividends. Since acquisition, over 200 land parcels have been sold valued at over $100 million to locals as well as broader Western Sydney, inner Sydney suburbs and Sydney’s North West purchasers.
“The ability to build expansive open-plan homes within a community that has an abundance of open spaces, outdoor facilities, and amenities has drawn huge buyer interest. The development’s location within a 30-minute drive to the Southern Highlands, 45 minutes from two international airports including the future Western Sydney International Airport, 25 minutes from Wollongong as well as world-class universities and medical facilities, makes Bingara Gorge a strong buying proposition.”
“Construction has commenced on several precincts, marking the busiest civil construction programme in Bingara Gorge’s history. Over 450 land parcels are in the construction phase,” he added.
Bingara Gorge is a 450-hectare site that will comprise 1800 homes when completed in 2024. Over 200 hectares of open spaces, a golf course, playgrounds, tennis courts, walk and cycle paths, leisure centre, retail shops, childcare and primary school will feature in the development.
As part of Wilton’s 2040 vision according to the NSW Department of Planning and Environment, A Plan for the Wilton Growth Area, state and federal governments are planning to invest billions of dollars into the region.
Bingara Gorge’s position will profit from this massive funding injection with residents expected to embrace the development’s proximity to the new retail, commercial and entertainment facilities in Wilton Town Centre’s precinct.
Metro has extensive experience in the delivery of premier sporting club communities, completing the Strathfield Golf Club in New South Wales and Adelaide Polo Club residential joint venture in the Adelaide Hills region, which is still under construction.
Last year the business acquired over $600 million worth of new sites, some of which include Bingara Gorge; an infill residential project in New South Wales known as Parade in Pemulwuy; a joint venture site in New South Wales with the Lower North Shore Catholic Parish of the Diocese of Broken Bay in Willoughby and an 8-star sustainability project in Melbourne’s Northcote.