The buyer of the Toyota site at Woolooware Bay forecasts the new business park it is planning will create thousands of jobs, with strong interest already fielded from global and national brands.
This will require higher density development across the site through a long-term masterplan, which can be sought under the present B7 zoning.
A Planning Proposal is expected to be submitted to Sutherland Shire Council within the next month.
The state government will be asked to support the new employment “hub” by upgrading the road system in the area.
Privately owned Aliro Group, through its institutionally backed Industrial Value Fund, AGIVF, purchased the site in March this year, and settlement is due to take place in November.
Aliro managing director and chief executive Daniel Wise said the intention was for the site to become a major job generating hub that will provide a diverse range of employment opportunities.