A Toplace-owned site in Box Hill, in Sydney’s Hills District, has been put on the market by the beleaguered developer’s receivers to help pay off liabilities of more than $1 billion.of development sites and real estate investments across Sydney before its collapse two months ago.Since then, dozens of Toplace companies have been placed into administration and receivership.
CBRE’s James Douglas, Ben Wicks and Alex Mirzaian, together with Knight Frank’s Mark Litwin, Graeme Russell and Chris Maher have been appointed to market the site. “The residential market in north-west Sydney continues to demonstrate consistent growth in value, primarily driven by robust demand, reduced supply and investor activity being experienced within the macro market,” Mr Wicks said.The proceeds from selling the Box Hill site will be used to repay debt, which court documents revealed was more than $1.24 billion, including $88.5 million to suppliers and tradespeople. Unsecured creditors have claimed an estimated $244 million.