The owners of Bingara Gorge, Metro Property Group (Metro), have purchased two prime assets from Lendlease in the prestigious masterplanned community in Wilton.
Metro acquired the 18-hole, 90-hectare championship golf course, designed by ex PGA professional Graham Marsh as well as a 4,760sqm parcel of land, set aside for a future country club and additonal land for club parking.
These acquisitions follow Metro's purchase of the balance of development approved land in Bingara Gorge from Lendlease in June 2021.
The sale was touted as one of the country's biggest acquisitions in the residential land market last year.
Metro Property Development owner Luke Hartman said the company purchased these assets to complete the vision for Bingara Gorge.
"These newly acquired assets will complement the existing state-of-the-art community facilities in Bingara Gorge, further adding value for our residents in delivering a liveable and connected community," he said.
"Bingara Gorge is strategically positioned to capitalise on the burgeoning South West Growth Corridor with multi-billion dollar investment in the region from the private sector, local and federal governments. Demand is outstripping supply for land in this area.
"The Bingara Gorge land acquisition further adds to our land bank to take advantage of strong market conditions.
"We currently have 25 projects underway with more acquisitions planned and will continue to restock in strategic growth corridors across Australia."
All 18 golf holes have been constructed with only the back nine currently in play.
Construction is expected to start on a golf bridge to link the front nine and back nine holes in the first half of 2022, with completion by late 2022..
The Feros Group will run the future country club comprising a restaurant and bar, outdoor bar area and internal function space, designed by H&E Architects.
The venue will seat between 800 to 1000 people. The development application is expected to be lodged in March 2022.
Metro Property Development project director Jeff Atkinson said the opportunity to acquire 900 development approved land lots in the growing suburb was paying dividends.
"Since acquisition, over 200 land parcels have been sold valued at over $100 million to locals as well as broader western Sydney, inner Sydney suburbs and Sydney's north west purchasers," he said.
"The ability to build expansive open plan homes within a community that has an abundance of open spaces, outdoor facilities and amenities has drawn huge buyer interest.
"Construction has commenced on several precincts, marking the busiest civil construction programme in Bingara Gorge's history. Over 450 land parcels are in the construction phase."
Bingara Gorge is a 450-hectare site that will be comprised of 1800 homes when completed in 2024.