Due Diligence Market Appraisal

The Carter Street Precinct is 52ha urban renewal precinct that was rezoned in 2015 to enable mixed use development. The rezoning allowed for the development of approximately 5,500 dwellings, new village centre, primary school site and public open space.

A draft Masterplan was prepared for the Precinct in 2018 and subsequently revised following the announcement of Sydney Metro West in 2019. A revised draft masterplan was exhibited in August-September 2020 and finalised in December 2020. The final masterplan provides for 700 additional dwellings (total 6,200), 12,000sqm of retail floorspace and three hectares of public open space.

The Carter Street Precinct was rezoned under the State Environmental Planning Policy Amendment (Carter Street Precinct) 2020 to amend the Auburn local environmental plan.

What we did

Atlas carried out a Market Appraisal that provided an understanding of the market potential of sites within the Carter Street Precinct to assist a prospective investor with due diligence investigations. It examined the influence of structural and cyclical trends on the precinct’s competitive context and potential to accommodate a range of land uses, including residential, non-residential uses (retail, commercial) and short-term accommodation.

The outcome

The Market Appraisal forms part of a suite of technical due diligence investigations that underpin a commercial offer.