Untouched waterfront site Glenlee for sale again after subdivision proposal stalls

The rare 2.5-hectare site, known as Glenlee, has been untouched for over 110 years, having been held in the Matthei family for generations.

The property – which has a homestead, a boat shed and several outbuildings – was listed for sale by the family in 2020.

Zoned R2 Low Density Residential, the triangular block was marketed at the time as one of the last remaining undeveloped waterfront blocks in metropolitan Sydney.

In the aftermath of a deal rumoured to be worth around $8.3 million, a development application was lodged seeking to subdivide the property into 31 residential lots and demolish the existing buildings and mature trees on the site. It was met with fierce community backlash when it was lodged with Georges River Council in May last year.

The application was refused by the council planning panel, after which the applicant appealed to the Land and Environment Court.

In August, the council was successful in issuing an interim heritage order for 80 Boronia Parade, with Mayor Kevin Greene proclaiming it “a great victory for our community and the heritage of Georges River”.

A heritage report commissioned by the council subsequently recommended the Lugarno site be considered for state heritage listing.

Glenlee was found to have aesthetic significance as a highly intact representation of Federation European settlement and as a First Nations cultural site, based on archaeological evidence. The National Trust (NSW) classified the address as an item of high cultural significance and value.

The heritage order on Glenlee was due to lapse last month but was extended for another 12 months by the NSW government – quashing hopes of a 31-lot subdivision in the immediate future.

Meanwhile, the Georges River councillors have made moves to request funding from state and federal governments to acquire Glenlee, with council documents estimating the acquisition costs “could exceed $15 million”.

But, in a twist of events that again throws Glenlee’s future up in the air, the site was returned to the market this week, with a $10 million price tag.

In a media release, Colliers agent Frank Oliver said the agency was “anticipating a competitive campaign from both developers looking to subdivide and owner-occupiers looking to acquire a substantial redevelopment opportunity”.

In response to questions from Commercial Real Estate about the details of the 2020 deal, a Colliers spokesman said: “The current owner exchanged on a put and call option in 2020 with a delayed settlement. They are now looking to take advantage of the strong residential market by listing the property.”

It is not uncommon for developers to use options when purchasing residential lots, in order to defer payment while they progress their development application.

Brian Raltson, president of the Friends of Glenlee Association, said the community wants the property to be publicly owned and preserved.

“In the last couple of council meetings, there has been unanimous support to look into the purchase of Glenlee,” Mr Ralston said. “A petition was set up by state member Mark Coure. And federal member David Coleman is also supportive. So all three members of government support the acquisition of Glenlee.”

But Mr Ralston said the put and call option had complicated matters.

“Up until now, the impediment they keep throwing up is that we can’t enter into negotiations because we can’t deal with the family of the estate because they’ve given an option to the developer, and we can’t deal with the developer because there’s no guarantee the option will be exercised.

“But with the advent of the Colliers brochure, it would appear that either the option hasn’t been exercised and it’s still back in the hands of the family, or it has been exercised and the developer now owns the property. “

Mr Ralston said if council was serious about purchasing the property, “now is the time to start negotiating.”

Georges River Council declined to comment.