Situated on Sydney’s coveted Lower North Shore in close proximity to Lane Cove Village, the site benefits from easy transport to the CBD (10 minutes), North Sydney (20 minutes) and Chatswood (12 minutes).
Part of the site was initially taken to market. Following the process, the initial site was amalgamated with two adjoining lots to complete the overall parcel. The process took place over a period of four (4) months, with the team amalgamating a total land area of 3,792 sqm and a sale price of $19,750,000 equating to a rate of $5,208 per sqm.
A Development Application will soon be lodged for this site with a total yield of 85 units. The sale of this site is another reminder that demand remains strong for development sites throughout the Sydney market.
|Rate per m²:||$5,208*|
|Zoning:||R4 High Density Residential|
|Building Height:||14.5 metres|
|Floor to Space Ratio:||1.6:1|
|Gross Floor Area (GFA):||6,067m² (STCA)*|
|Rate per site (STCA)||$263,333^|
(based on approx. 73 units)
|Rate per GFA m²||$3,225^|
|Raw or DA:||Raw|
|Sale Date:||March 2016|
|Sale Type:||Private Treaty|
^Calculation based on 90% efficiency GFA and average 75m² 2 bedroom unit size overall.