Gosford: Kibbleplex shopping centre site sold with approval for five towers

A landmark development site in the heart of Gosford with approval for five towers including a hotel, apartments and retail has finally sold.

The Pacifica Gosford site at the former Kibbleplex shopping centre has sold.

The iconic Kibbleplex shopping centre site in Gosford has sold.

Colliers has announced that the site at 136-148 Donnison St, which has concept approval for a five tower development, exchanged in June however the new owners and sale price remains confidential.

Former owners the Lederer Group placed the site, also known as Gosford Pacifica, on the market in early 2022 and it was sold by Colliers via an expressions of interest campaign after many “strong offers”.

The 1.42ha site, described as “one of Gosford’s most significant masterplanned sites” has masterplan approval for five towers over retail and commercial podiums as well as two levels of basement parking, as part of stage one.

The site has masterplan approval for 72,782 square metres of gross floor area, including five towers.

It has been sold in a “record transaction” by Jon Chomley and Eugene White from Colliers capital markets and NSW residential development teams.

“Pacifica Gosford is a remarkable central city, development approved site capable of accommodating over 700 residential apartments with additional commercial and retail space and parking for over 1000 cars,” Mr Chomley said.

“With four street frontages and a design that enables the staged development of up to five towers, this is a truly irreplaceable development site.”

The Donnison St site exchanged in June however the new owners and sale price remains confidential.

The $345m plans for the site had been in the wings for more than 10 years and received conditional approval in 2020 for five towers with more than 700 apartments along with commercial spaces.

The stage one plans have 5422sq m of retail and commercial gross floor area, as well as recreation spaces and a new pedestrian link.

Mr White said Gosford had been the “beneficiary of the sea change movement from Sydney” over the last two years with the new owner able to consider a variety of uses for the site including student accommodation, retirement living and residential apartments.

“It is also a highly sought after retirement area with older residents benefiting from the extensive medical and care services in the region,” he said.

Colliers agent Eugene White said Gosford had benefited from the “sea-change” movement over the past two years.

The Kibbleplex site was placed on the market around the same time as the Archibald development site in Mann St, sparking concerns for the two major approved developments.

The Archibald site, with approval for twin towers up to 26 storeys, sold in May with new owners ALAND wasting no time lodging amended plans which are currently before Central Coast Council. The plans see the firm forging ahead with the approved two towers, however reducing carparking to 708 spaces with 130 hotels rooms and 323 apartments.