Desane Group Holdings Limited announced the completion of its acquisition of the development site in the western Sydney suburb of Penrith. The site, located at 91 Thornton Drive, was purchased from UrbanGrowth NSW for $3.9 million. Development plans for this property are being prepared for submission to Penrith City Council. The property has an area of approximately 1.2 hectares (2.9 acres) with an 88 metres frontage. It is located within 400 metres of Penrith Railway Station, 600 metres of Westfield Penrith Plaza, the Penrith CBD and with easy access to the M4, M7, Penrith Nepean Hospital and the planned Badgerys Creek airport. The property offers direct exposure to the new master planned residential project currently being completed at Thornton which provides for over 1,000 new dwellings including 15,000 metres of retail, commercial and bulky goods floor space. Major companies neighbouring the acquired property include McDonalds, Subway, Bunnings and Kennards Storage.