AN ICONIC retail strip in the heart of Windsor has been purchased by a Chinese investor for $9.5m with plans to transform the site into 110 apartments with 205 car parking spaces, subject to Council approval.
The property, which has three street frontages and fronts onto the mall, currently has 12 leased stores including the Outback Bakehouse.
Agent David Lee from Leaders Estate Agents at Gladesville said the buyer did not inspect the site in person but believed it had good potential due to its proximity Badgerys Creek.
“The owner really loves the area — he didn’t see it personally but has family in Australia who came to look at it,’’ he said.
“It is a great location as it is just about 300m from the river and 1.5km to the railway.’’
There are development plans to transform the site into 110 apartments with 205 car parking spaces, subject to Council approval.
The new owner is not expected develop the site for several years.
According to CoreLogic, the sale beats the previous record of $2.31m paid for 52 Macquarie
Street _ which already had DA approval for 24 apartments _ in December 2014.
The most expensive property in the suburb is the Windsor Riverview Shopping Centre
located at 227 George Street which sold for $47.5m in July 2014.