15 PROPERTY NEWS CENTRAL COAST LEGACY has sold its Gosford waterfront site at 51-57 & 59 Masons Parade, Point Frederick for a record breaking price reported to be around $18 million, with new owners planning an iconic residential development. The 11,033sqm site zoned B4 Mixed-Use has been occupied by Legacy since 1951. Agents Hillier Property negotiated the sale. The property had been on the market for about six months with several wellknown developers looking to buy it. However, Central Coast Legacy CEO Peter Lawley told CCBR that the buyer, Legacy Views Pty Ltd made an offer with no conditions and immediate settlement. Top price for Legacy’s Gosford waterfront site About one hectare of the total site area of 5.735 hectares, 17.4% of the site, is being conserved for environmental protection and managed under a Biodiversity Management Plan (BMP). The BMP aims to maintain the heritage value of the listed Scribbly Gums and to regenerate mapped Swift Parrot habitat. It incorporates best practices in bushland restoration, management of invasive species and revegetation in order to achieve the plan’s objectives within five years. Conciliation was ultimately terminated and the matter listed for hearing. But the parties continued to negotiate in relation to the form of the development and appropriate conditions of consent resulting in amendments made to the DA in December 2024 addressing Council’s concerns. The parties ultimately reached an agreement based on the amended plans and documents. “As the presiding Commissioner, I am satisfied that the decision is one that the court could have made in the proper exercise of its functions,” Dickson said. Dickson said Transport for NSW (TfNSW) had approved construction of vehicular access to Central Coast Hwy. She was also satisfied that the development was not likely to have a serious and irreversible impact on biodiversity values and that proposed signage was within acceptable parameters. “The proposed identification signage will be compatible with the existing and desired future character of the Kariong locality and in particular the Mount Penang Parklands area … and is consistent with the particular commercial theme for outdoor advertising in this area,” the judgement said. Dickson said signage would not obscure or compromise any important views, nor dominate the skyline. Opponents of the development had expressed concerns regarding traffic and environmental impacts of the development and the proximity of fast-food outlets to nearby schools Fast food restaurants are the milk bars of today’s society and it is expected that they will collectively employ 180 local staff once trading commences. A similar number of jobs will be created during construction. Big win for Stevens and Brand Group as L&E Court approves Kariong development CONTINUED FROM PAGE 5 Editor’s Note: Established in 1913 as Gosford Farm Home for Boys the 280 Hectare site eventually became the Mount Penang Training School for Boys. During that time the entire area was run as a dairy farm. In 2003 the area was taken over by the Festival Development Corporation (subsequently becoming the Hunter Central Coast Development Corporation). A new Detention was built at the rear of the site, Kariong High School was built on the site, and the remaining area became known Mount Penang Gardens. From 1997 for twenty-three years the Australian Springtime Flora Festival was held on the site attracting thousands of visitors each year. At the time there were no scribbly gum trees or swift parrots as the entire area was grassed and regularly mowed. Prior to that cattle grazed the area for over a hundred years. CONTINUED ARTICLES CENTRAL COAST BUSINESS REVIEW JUNE 2025
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