DA approved site in world-famous Blue Mountains

EXPRESSIONS of interest are being sought for a DA approved site on the doorstep of the Three Sisters in the world-famous Blue Mountains at 142-150 Narrow Neck Road.

Vendors Kee Blue Mountains Pty Ltd have set a price guide of around $3,500,000.

The parcel in Katoomba, heart of the Blue Mountains, has a development approval for the construction of a 120-room hotel with parking for 170 vehicles across two levels.

The 16,850sq m* site is being marketed and sold by Ray White Commercial NSW Managing Director and Partner Jeff Moxham and Senior Sales Executive Patrick O’Brien.

Mr Moxham said the asset offered an incredible opportunity to take advantage of one of Australia’s biggest tourist attractions.

“More than two million** people are estimated to converge on Echo Point (Three Sisters) every year, so this is an incredible site for buyers to purchase,” Mr Moxham said.

“It’s so rare for a DA approved site for a hotel to become available on the doorstep of one of the most world-renowned tourist precincts.

“The hotel scheme includes stunning views across the escarpment, multiple function areas and pre-function lounge, pool and gym, internal restaurant and additional coach parking.

“Given the flexible zoning of R3 – medium density residential, the vendors have also engaged Gelder Architects to prepare a scheme representing a potential development of 40 townhouses, subject to council approval.

“Adjacent to the property are a number of adjoining super lots that have recently been developed and are currently undergoing construction under the medium density zoning for townhouses.

“Some recent townhouse sales have occurred within the estate for well over $800,000, and the most recent sale of adjoining land at 152-166 Narrow Neck Road in Katoomba, settled for $2M.

“This site was approved for 24 townhouses, which equates to $83,000 per townhouse.”

Mr O’Brien said the site offered stunning wilderness surroundings and overlooked the former Katoomba Golf Course.

“The parcel is within 3km* to the famous lookouts including the Three Sisters, Kedumba and Megalond Creek riparian zones, celebrated hospitality options, amenities and local retail and cultural hubs,” Mr O’Brien said.

“Katoomba Street, the primary retail strip within the chief town of the Blue Mountains, is 2.4km* away, providing access to sporting facilities, restaurants, and a multitude of professional services.

“The site also offers easy access via the Great Western Highway to other well-known centres of Leura, Blackheath, Wentworth Falls, Lawson and Springwood, within the Blue Mountains.

“This is simply one of those opportunities that is just too good to pass up on.”

*Approximately.
** Blue Mountains Economic Enterprise.