Development potential fuels Epping 7-Eleven interest

The service station on the corner of Beecroft, Ray and Carlingford Rds, Epping, has been there, in some shape or form, for as long as Gordon Fallance can remember.

“I grew up in West Ryde and I don’t remember there ever not being a servo on that corner,” Fallance says.

Fallance, a director GJS Property, has been given the job to sell the 3000sqm site at 246-250 Beecroft Rd, which is 250 metres from Epping railway station and zoned B2 Town Centre under Parramatta Council.

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This zoning allows for up to 15 storeys of commercial/residential development (stca) with a potential maximum building height of 48 metres.

Fallance says it is one of the last large development sites in the suburb that has undergone unprecedented development since the State Government finalised the rezoning of the Epping Town Centre in 2014.

246-250 Beecroft Rd, Epping: The property is familiar to locals and commuters.

As well as talking to local and overseas property developers through an “expressions of interest” campaign, Fallance has alerted government agencies and retailers about the zoning that allows for about 20% of commercial/retail space in any new development.

A 7-Eleven convenience store, auto-care centre and hand car wash occupy the site but it is not owned by the 7-Eleven company, Fallance says.

A “private individual” bought the property from 7-Eleven for $2.65 million in 2011 and leased it back to 7-Eleven, he says.

“And in the subsequent years, the land was rezoned,” Fallance says.

“I’m sure 7-Eleven would never have sold it had they known that was going to happen.”

In 2017, the owner sold a “sliver of land” to Roads and Maritme Services NSW for $1.79 million.

246-250 Beecroft Rd, Epping: Expressions of interest close on Thursday, March 14.

Fallance says “mitigating circumstances” have led to the sale of the rest of the property.

“It’s certainly not about the owner grabbing at cash,” Fallance says.

The site is in a prime position, neighbouring a 4300sqm property owned by Sydney Metro at 240 Beecroft Rd.

In June, an adjacent property at 3 Carlingford Rd, on the corner of Rawson St, sold to a property developer for $36 million, a reported 27% above its valuation.

The five-level office block on 4700sqm is next door to a Coles supermarket.

The property at 246-250 Beecroft Rd, Epping, is for sale by expressions of interest closing on Thursday, March 14.

This article from the District Northern Times originally appeared as “Petrol station in prime development spot fuels buyer interest”.