As the much-anticipated North-West Metro Line gears up for its mid-2024 opening, the spotlight is on Carrington Place, a landmark $850 million master-planned community by Ellipse Property. Situated directly opposite the future Hills Showground Station in the heart of Castle Hill, this development has become a magnet for first home buyers and investors eyeing strategic opportunities.
Beyond the prospect of a time-saving commute, potentially cutting 15 minutes off the drive from Castle Hill to the CBD during peak hours, recent research from CBRE and Proptrack reveals that apartments along Sydney Metro stations command premiums of up to 20 percent compared to properties in neighboring suburbs.
Joe Chiha, Carrington Place Project Director, notes,
“Apartments surrounding Metro Stations are predicted to outperform similar projects in neighboring suburbs by up to 20 percent, recent research has shown.”
Castle Hill’s Prime Position and Growth Prospects
Being the premium suburb in the Hills District, Castle Hill is poised to reap the benefits of this projected uplift. With a remarkable 72% growth in apartment prices over the last decade, the suburb is positioned for sustained growth. Chiha chimed in on the growing rental market noting;
“Rental returns in Castle Hill are expected to average over 4%, offering an attractive return for investors.”
The first residential stage of Carrington Place, named Atrium, features 151 apartments within an eight-story mid-rise building. Serving as the gateway to the Carrington Place precinct, Atrium offers a range of amenities, including rooftop recreational spaces providing stunning views of the landscape and Cattai Creek.
Notably, the precinct is designed to encompass over 20,000 square meters of recreational space, including outdoor gyms, wellness areas, and lush gardens. This ambitious green initiative, conceptualized by Site Image Landscape Architects, positions Carrington Place as one of the greenest master-planned communities in the Hills District.
Managed by PRD Norwest Director David Inkster, sales for Carrington Place have seen a robust response from both first home buyers and investors keen on securing early pricing ahead of the Metro Line opening.
“Carrington Place is ideal for those securing their first property and investors looking for professionals attracted by the convenience of the shortened commuter time on the fast driver-less trains to the CBD – opening in mid-2024.”
A Glimpse into the Future: Boardwalks, Residences, and Urban Transformation
Upon completion, Carrington Place will boast 771 apartments across five buildings, ranging from eight to 12 stories. The development will feature a mix of one, two, and three-bedroom apartments, as well as premium two-bedroom and three-bedroom units designed to resemble homes more than typical apartments.
Designed collaboratively by award-winning architectural firms Tony Owen Partners and Stanisic Architects, the buildings seamlessly blend with the natural landscape and the curve of the tranquil Cattai Creek along the western border.
A standout feature of the project is a one-kilometer boardwalk running along Cattai Creek, connecting to Fred Caterson Reserve, a 58-hectare local reserve with picnic areas, playgrounds, and multiple sports facilities.
Castle Hill’s Evolution: Showground Precinct Redevelopment
The gradual transformation of Castle Hill into a modern, cosmopolitan, and dynamic urban center is underway. The Hills Shire Council envisions a 30-year redevelopment plan for the Castle Hill Showground Precinct, situated directly opposite Carrington Place. This plan aims to create a 15-hectare entertainment and recreation hub, catering to various community, arts, sporting, and leisure activities.
Residents of Carrington Place, strategically located opposite the Hills Showground Metro Station, will enjoy easy access to Sydney’s CBD, Chatswood, North Sydney, Macquarie Park, and Norwest Business Park. With trains operating every four minutes during peak hours, this development offers unmatched convenience on Australia’s first driverless railway.
Construction for Carrington Place is set to commence soon with Decode Group, with Stage One Atrium expected to be completed in Q4 2025. The entire five-stage precinct is scheduled for completion in 2032.
Note: The information presented in this article is for general informational purposes only and should not be relied upon as legal, financial, or professional advice. While we make every effort to fact-check and verify the information presented, we cannot guarantee its accuracy or completeness. Readers are encouraged to independently verify any information they find on our website and to consult with relevant professionals before making any decisions based on the information presented. The Australian Development Review does not own the rights to the information included within this article, and furthermore, there is no infringement intended from the included text and images within.