One of beleaguered developer Toplace Group’s sites, in Sydney’s Hills District, has come to market.
The 4.3ha site at Box Hill, about 48km north-west of the Sydney CBD, has approval for a a 22,843sq m shopping centre and 660 apartments.
Sydney developer Jean Nassif’s Toplace Group went into voluntary administration earlier this year, sparked by the developer’s building arm going into voluntary administration at the start of July in the wake of its licence being suspended, which was followed by more than 64 subsidiaries going under.
In July, administrators DVT Group said it was investigating assets and liabilities “well in excess of $1 billion”.
“The voluntary administration of Toplace may well be among one of the largest property administrations in Australia,” a spokesperson said at the time.
Receivers and managers Joseph Hansell and David McGrath, with their NSW real estate solutions lead Glen Smith of FTI Consulting, are now selling the site.
CBRE’s James Douglas, Ben Wicks and Alex Mirzaian, with Knight Frank’s Mark Litwin, Graeme Russell and Chris Maher, are conducting the on-market campaign.
The site at 29-31 Terry Road “provides a rare opportunity to secure a full line supermarket development opportunity…