Property developer Jean Nassif selling prized parcel of land in Sydney’s south for $100m+

Besieged property developer Jean Nassif is selling off a prized parcel of land in Sydney’s south expected to fetch more than $100 million.

Jean Nassif is selling off a prized parcel of land in Sydney’s south expected to fetch more than $100 million.

Besieged property developer Jean Nassif is selling off a prized parcel of land in Sydney’s south expected to fetch more than $100 million.

As Nassif’s daughter Ashlyn Nassif briefly fronted Sydney’s Downing Centre Local Court on Wednesday, less than two weeks after she was released from custody on charges stemming from her alleged involvement in a $150 million property fraud, news came of the listing of the massive industrial property in Mascot.

The listing is not related to matters before the court.

Colliers National Director’s Michael Crombie and Trent Gallagher have the exclusive listing on behalf of JKN Park, a company owned by Jean Nassif, with price expectations above $100 million.

High profile property developer Jean Nassif Picture: Liam Mendes / The Australian

According to Colliers, the 16,404 sqm industrial property could be suited to numerous uses, including a multi-level industrial development, commercial, hotel or serviced apartments.

“It’s unusual to see a site of this scale for sale in such a desired location,” Mr Crombie said

“The immediate proximity to Sydney Airport, Port Botany, Mascot Railway and the motorways will be integral to the end development of this site.

“The vendor has heavily de-risked this asset, with a DA as well as an amendment to the height enhancing the development opportunity.”

Overlooking Mascot Oval at 146 and 154 O’Riordan St in Mascot, the property’s proximity to Sydney Airport is another key selling point.

“This offering represents a gateway opportunity into the highly desired South Sydney market,” Mr Gallagher said.

146 and 154 O’Riordan Street in Mascot. Picture: Supplied

The property expected to fetch $100m+ Picture: Supplied

“The asset will be hotly contested as it will suit a huge buyer pool including industrial investors seeking to reposition, industrial developers for multi-level logistics, office, hotel, data centres and serviced apartments.”

Jean Nassif, who is currently overseas, came out in support of his daughter on social media after her initial court appearance, posting a message to Instagram that read “to my daughter, never forget that I love you”.

“When life tries to knock you down, I will always have your back. I can’t promise to be here for the rest of your life … but what I can promise is that I will love you for the rest of mine”.

Meanwhile, one of Nassif’s other business Toplace made headlines again earlier this week when the New District Court found the company had been negligent following a horror workplace accident at one of its construction sites where a young trainee surveyor became impaled on a steel rod after plunging through gaps in the floor of one of the tower blocks being built in Granville in January 2018.

In 2020, Mr Nassif was anointed as one of Sydney’s Concrete Kings - key figures leaving their footprints across the suburbs.

146 and 154 O’Riordan Street in Mascot is for sale via an Expressions of Interest campaign closing Wednesday, 12th April 2023 at 3:00PM (AEDT).