ALAND launches mixed-use Queens Square precinct to undersupplied Campbelltown apartment market

Sydney developer and builder ALAND has recorded 74 sales at its $500 million Queen Square development in Campbelltown, following the opening of the project's display suite over the weekend.

Buyers moved quickly on the first release, with ALAND CEO and Founder Andrew Hrsto saying the result highlighted the pent-up demand for new apartments in the heart of Campbelltown.

"There has not been an apartment release of this quality in the centre of Campbelltown for years, so people have been waiting," Hrsto said.

"We had buyers queuing before we opened the doors. A lot of them are locals who want to stay in the area and have not had anything new to look at, and a lot of them are first home buyers."

Queen Square is ALAND's major mixed-use play at 22-32 Queen Street, around 800 metres from Campbelltown Station.

The precinct will deliver 542 apartments across five buildings rising up to 15 storeys, alongside a significant new retail and hospitality offering at ground level.

Plans include a supermarket, gym and an "Eat Street" dining precinct, while around 4,000 sqm will be dedicated to communal open space for residents.

Hrsto said the response over the opening weekend validated ALAND's decision to pursue a larger precinct-style development rather than a standalone apartment project.

"We did not buy a block in Campbelltown to put up units. We bought it to build the town centre this city has been missing," he said.

"You can live here, do your shopping here, eat here and walk to the station. That is why people signed on the weekend. They are not buying an apartment, they are buying the lifestyle that surrounds it."

Queen Square comes at a significant time for Campbelltown, which is expected to accommodate a sizeable share of Sydney's future housing growth.

Under the NSW Government's housing targets, the Campbelltown local government area is working towards 10,500 new homes by 2029, while the Glenfield to Macarthur Urban Renewal Corridor is targeting increased housing density around key transport hubs including Campbelltown, Leumeah and Minto.

Investment in the wider Macarthur region has also accelerated, including the recently completed $632 million second stage of the Campbelltown Hospital redevelopment.

Campbelltown Mayor Cr Darcy Lound, who officially opened the Queen Square display suite on Saturday, said the project represented the type of private investment the council had been seeking for the CBD.

"Council's been trying for a while now to get the private sector to invest in Campbelltown, and this is going to revitalise our city centre," Cr Lound said.

"Queen Square is going to transform Campbelltown. We're super excited about the amenity it's going to bring. They're going to have amenity at their doorstep. So it's a wonderful, wonderful outcome for Campbelltown, and we thank ALAND."

ALAND is also leaning on its track record as both developer and builder at a time when buyers are increasingly scrutinising who sits behind new apartment projects.

The Western Sydney-based group has delivered more than 40 developments across NSW since it was established in 2002 and holds a Gold iCIRT rating.

"Buyers are asking much harder questions than they were two years ago, and they should be," Hrsto said.

"We have never not finished a building. We back our own projects, we build them ourselves and we hand over the keys. Right now that is the only answer worth anything."

ALAND currently has around 2,000 apartments under construction across NSW, with a further 5,000 residences in its planning pipeline.