Retail Giant Spotlight set to invest $3b towards Castle Hill mixed-use precinct

It is close to the Hills Showground subway station. In the future, it will include a retail centre covering an area of 18,000 square metres, an office building with an office area of 30,000 square metres, and another hotel with 165 rooms.

Designed by well-known architect Bates Smart. The design also includes a leisure plaza with an area of 7,800 square metres, driving lanes and landscape streetscapes, as well as a top public space of up to 5,400 square metres, and dedicated sports faciltiies.

The Castle Hill project is one of six large-scaled mixed-use projects identified by Spotlight, with a final commercial value of about 1.5 billion Australian dollars. This is an important move by the retail group to vigorously promote the development of real estate. The prosperous recovery of the real estate market has allowed the local Australian retail group to see great potential. It can be predicted that the formation of a new core business district will further promote the local residential property market.

What are the investment advanrtages of Hills Showground:

-Location advantage: The only area with two train stations (Castle Hill and Showground Castle Hill) in the same district.

-Environmental advantages: mostly low-density residential complexes, the green area coverage in the district is extremely high, exceeding 60%.

-Planning advantages: Although the opening of the area is still in its infancy, the government has paid considerable attention to the planning guidelines for the area. It is estimated that by 2036, there will be more than 9,000 new housing units in the district.

-Employment advantage: 3 km from Norwest Business Park, only 2 km from the main business district of Castle Hill, 15 km from Sydney Business Park and Parramatta CBD, etc. It is estimated that more than 22,000 new jobs will be created in the region in the next 20 years.

Source: Australian Financial Review 2021