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Property information

Address 6-12 Dumaresq Street, Campbelltown, 2560

Lot plan SP63212 Property type Commercial: Office Building

Floor area 2,380m2 Land area 1,275m2

Max height 45m Zone B3 Commercial Core

Listing price (07 Mar 2016) $8,500,000

Source: Rpp Data & planningportal.nsw.gov.au

The property is located at 6-12 Dumaresq Street, Campbelltown with favourable access as it is
only 250 meters away from Campbelltown station and close to main roads. The site is in zone B3
Commercial core of Campbelltown CBD designed as a high developed commercial area aligning
with South West suburb development. A small proportion of the building is currently occupied by
small offices and retail shops with short term lease. As referred to NSW Government (2015a), this
location is permitted for vast array of commercial uses. However, the most potential are
commercial premises, home business, information and education facilities, and medical centres.

Proposed concept

Due to the maximum height of 45 meters of the B3 commercial zone, it is great opportunities to
build a 12-storey building on this site. The building could be designed for mix use of office and
retail leasing with total net lettable area of 13,770 sqm. First 4 floors are for local home businesses
and retail shops providing variety of products and services while the other 8 floors are for office

For retail leasing, we could have the presence of some foods and beverages brands such as
Pizza Hut, Domino, Starbuck, Gloria, Coffee Bean, Guzman and other mini shops, drug stores.
For office, the deal will be made with National Australia Bank (NAB) as the anchor tenants as this
bank currently does not have presence in this growing area. The building will be carefully designed
with high finish quality of an A grade building that integrate into surrounding sites design.

Market analysis

As a major employment centre, Campbelltown generated a remarkable jobs proportion of the

region in business, administration, health and retail. According to NSW Government (2015b), 40%
of jobs in Campbelltown were in health and education, making up the largest proportion, followed
by retail and business. There will be an additional 385,000m2 of employment lands delivering
around 6,800 additional jobs to 2036 (NSW Government 2015b).
According to NSW Government (2016), both commercial and retail property markets in
Campbelltown have increased by 13% in retail locations and 34% in local centre locations. This
can be seen as a result of improved infrastructure and increasing population in Campbelltown
LGA. The office market report (Knight Frank 2016) points out that there is 8.2% vacancy rate with
market yield of 9-10.25% as the highest level of those in Sydney Suburban area. Furthermore, as
per NSW Government (2014), a new Badgerys Creek Airport for Western Sydney region will be
delivered, which enables Campbelltown to grow as prime regional city centre with additional
convenient services and transport system. As a result, mix-used developments of retail and office
can be seen as a huge potential investment in this area.

Site Controls

According to the height of building map (NSW Government 2015a), the site is allowed to be built
with the height of 45m which is the maximum level in the whole Campbelltown city. In terms of
FSR, there is no document regulating FSR of the site. However, it is informed by Campbelltown
council that FSR in commercial core B3 zone is impacted by regulation of allowable building
height. In other words, with standard height of 3.5m for each level, the FSR applied in this case
will be 12. The proposed project, therefore, can be characterised with the first four floors of retail
shops and the other eight floors for office space. Thanks to zero-metre setbacks requirement
(NSW Government 2015c), the gross floor area is calculated with the maximum land area of
1,275m2. At the suggested rate of core area accounting for 10% of GFA (Business Dictionary
2017), the total net lettable area in this project is 9,180 m2 for office and 4,590 m2 for retails.


To reinforce the feasibility of project, it is essential to identify the acceptable level of net rental for
office market and selling price for retail shops market. According to Commercial Property Guide
(2017) in Campbelltown CBD, the average price for retail market is $5,058 per m2 and the rent for
office market is $408 per m2. In combination with data from equivalent properties in the
surrounding area, the suggested price for retail shop is $5,000 per m 2 and the net rental for office
is $400 per m2. After deduction of development cost including interest, the profit is forecast at
27%. The project would reach a break-even point if the vacancy rate was 21%. In the other
perspective, for the scenario of 100% occupancy rate, the lowest possible price for retail and net
rental for office is $4,190 per m2 and $309 per m2 respectively at the point the project makes no

To conclude, the huge potential market for mix-used developments with easy access, fast growing
area and positive financial feasibility can make the project viable and profitable.

Business Dictionary 2017, Definition, viewed 01 Feb 2017,

Commercial Property Guide 2017, Campbelltown Suburb Profile, viewed 04 Feb 2017,
Knight Frank 2016, Sydney Suburban office market report, viewed 01 Feb 2017,
NSW Government Planning and Environment, n.d, Property Details
NSW Government 2011, Section 94A Contribution Plan, viewed 22 Jan 2017,
NSW Government 2014, A plan for growing Sydney, viewed 19 Jan 2017,
NSW Government 2015a, Campbelltown Local Environmental Plan 2015, viewed 19 Jan 2017,
NSW Government 2015b, Campbelltown Precinct Land use and infrastructure analysis, viewed
22 Jan 2017, <http://www.campbelltown.nsw.gov.au/files/assets/public/document-
NSW Government 2015c, Campbelltown Development Control Plan 2015, viewed 19 Jan 2017,
NSW Government 2016, Property Narrative Campbelltown final report, viewed 05 Feb 2017,

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