• Ben Wilmot
  • The Australian


Sydney developer Toplace has become the latest player to swoop on a major parcel in the city’s northwestern suburbs with the group snapping up an estate for about $42 million. The property developer, which has a series of projects across suburban Sydney, has swooped on the home, known as Dunrath, in West Pennant Hills.

Toplace has built apartment projects across Sydney for more than 20 years but shot to prominence when it bought a Robert Magid’s Rosebery Park residential project for $75m in 2013.

Toplace currently has unit developments under way in Mascot, Botany, Parramatta, Granville, and has also earmarked sites for projects in Kellyville and Box Hill.

While the $42m price tag of its latest acquisition is yet to be confirmed, printing tycoon Robert McMillan said the decision to sell the estate that sits within 800m of the new Cherrybrook Station and North West Rail Line as an “easy one”.

The 4999sq m site is yet to be rezoned but is in an area that developers have carved up in expectation that the railway line will transform the area.

Hills Shire Council has appointed real estate agency CBRE to sell a site known as 51-53 Old Castle Hill Road in Castle Hill.

The property spans an area of 1.416 hectares.


Ben Wilmot has been The Australian’s commercial property editor since 2013. He was previously a property journalist with the Australian Financial Review

More Top Stories

News 11 Mar, 21

Are apartments a bargain buy?

As house prices rise to record levels on the back of Australia’s COVID recovery, some home hunters are eyeing off apartments as a bargain buy. House price rises have been outpacing unit price rises, as the gap between the two widens. However experts say the discrepancy won’t last. According to respected real estate data provider …

News 20 Jan, 21

Why hasn’t COVID-19 made Sydney’s property market sick?

When coronavirus hit Australia’s shores early in 2020, most property predictors anticipated a dramatic crash that would see Sydney prices plummet. That didn’t happen, not even close. While it is true that Australia did experience its first recession in over 28 years; wages are still down, unemployment is up and inner city rents in some …

Article 06 Jan, 20

What new off-the-plan laws mean for buyers

New laws governing the purchase of off-the-plan apartments will provide greater consumer protections for buyers and increase the onus on sellers and developers to be more transparent in their dealings. These new laws, which came into effect in NSW earlier this month, and other disclosure obligations, are a win for the property industry and a …