Sydney, 4th November – An incredibly rare site of historical significance in the Hunter Region, the Wangi Power Station, has come to market offering an unprecedented development opportunity in Australia.
Located an hour-and-a-half from Sydney, the 22.3-hectare plot of mostly untouched terrain right by the coast has the potential for between 50,000 and 60,000 sqm of floor space, subject to approval.
Currently abandoned, the heritage listed property gives a glimpse into the region’s industrial past while providing the opportunity for a substantial residential, retail, commercial or even tourism site. It comes with both R3 Medium Residential zoning and Zone B4 Mixed Use, providing almost unlimited potential with what can be created.
Featuring three eye-catching chimneys, the heritage values of the power station combined with the surrounding coastal environment, have been key in reaching the flexible zoning status the proposed community development now has. The Colliers team of Peter Macadam, Nick Estephen and Thomas Mosca has the listing on behalf of the McDonald family, and can see the possibilities on offer in the beachside locale.
“This site presents the opportunity to develop a national icon, not dissimilar to developments like the Battersea Power Station in London or the Casula Powerhouse Museum. With zoning for both mixed use and medium density residential and over 50 acres right near the water, the site is primed for redevelopment,” Mr Estephen said.
Construction on the site began in the late 1940s and it was officially opened in 1958 by the NSW Premier Joseph Cahill. The power station was at the heart of the Wangi Wangi community until it was decommissioned in 1986, playing an important part in relieving New South Wales of power shortages during the late 1950s and after a state-wide power shutdown in June 1964.
CEO of Lake Macquarie City Council Morven Cameron expressed how excited they were about the prospects for the site and its future benefits for the region.
“We do see it as an iconic building and we also see it as a real opportunity to continue this journey of diversifying our economy,” she said.
The sheer size and scale of this unique structure makes it the centrepiece and contrasts to the natural surrounds, with any development potentially guided by the Old Battersea Power Station in Wandsworth, London. Still under construction, it has already become a globally recognised project with its industrial bones that have been repurposed through an innovative new mixed-use design and cutting-edge construction.
Newcastle has become a major regional hub largely due to its strong ties to tourism and the resources sector, as families and retirees who have been priced out of the Sydney market flock to the city and its surrounds.
“As Sydney becomes more unaffordable for many, new locations with excellent proximity to major markets by road and air such as Lake Macquarie are increasing in popularity. The lifestyle offering is attracting a skilled workforce, which in turn is attracting new business and the Wangi Power Station provides the perfect opportunity to capitalise on these factors,” added Mr Macadam.
The Expressions of Interest campaign closes on Thursday, December 9, 2021.
