As we reported here last year, the developer had announced plans to build 54 units on the derelict school site, which had been vacant since 2001 after dangerous substances were discovered in the grounds.
AEH had purchased the site for $7.5 million in 2007 and has since been working to remediate the land.
Now Colliers International has listed the 26,640 sqm site for sale. AEH Group chief operating officer Michael Rabey tells us the decision followed a recent market test for the separate parcel of the land that sits on the opposite side of the site to raise funds for remediating the land.
“We had such strong interest from various groups for both this separate block, and the whole site, that the owners could no longer ignore the option of finding a new owner for the whole site to take it forward,” he said.
The site is the largest mixed-use land holding in Camden and is approved for 15 buildings in total, including 162 independent living apartments, a 76-bed aged care facility, 51-bed motel, medical centre and five commercial suites.
A number of the first stage of apartments had already been reserved and Mr Rabey says they will be keeping buyers updated on the sale process.
The sale proceeds will potentially be directed to several opportunities AEH has under consideration including a new plan to expand its Newcastle village at Sugar Valley.
