_Kuala Lumpur, the crystal ball for Sydney’s TOD sites
Malaysian investors with infrastructure development in their DNA see an opportunity to perfect 30 years of successful Transit Oriented Development (TOD) experience in Sydney’s Northwest.
The expansion of new rail corridors into metropolitan Sydney puts domestic developers on the back foot due to limitations in current lending conditions and cautionary tales from the rumor mill floating around.
The essence of TOD revolves around the comprehensive place making experience to deliver an environment where you can live, work and play, all adjacent to a transit interchange. Often planned and developed from scratch, the results are amazing! MRCB (www.mrcb.com.my) leverages lessons with KL Sentral, Penang Sentral, and PJ Sentral Garden City. MRCB (www.mrcb.com.my) pioneered TOD in Malaysia with the development of the iconic KL Sentral CBD and is setting the standard for future TODs.
Urban infill, change of use and increases to density directly on top of “four-minute trains” in the northwest also give rise to sales revenue and income streams previously inaccessible.
Our Knight Frank team in Kuala Lumpur hosted Scott Timbrell, Adam Bodon and I to promote commercial, hotel and high density residential developments sites along the new Sydney Metro Northwest.
What was their feedback? Go big and go bigger, and the excitement to create a new place and access fresh revenue motivates Malaysian investment.
The success of TOD delivery in major Asian cities is rooted in scope and scale. To make sense of Sydney Metro’s $20 billion investment into infrastructure, they believe the more intensity of use, density of population and taxable land, the better.
“Showground and Carrington” gives scope and scale with over 10,000 square metres of opportunity to unlock new value propositions at the new Showground Precinct as the only amalgamated high density site left opposite the new station.
For more information please contact:
Mark Litwin
+61 415 742 605
Mark.Litwin@au.knightfrank.com