“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.