CURRENT DEVELOPMENT SITE LISTINGS:
Call Mark Thorn now on (0419) 989 923 for information on any of these listings
DEVELOPMENT SITES FOR SALE - FRENCHS FOREST:
MID-RISE APARTMENT SITE – 1,020 m2 OF PRIME R3 ZONED LAND WITHIN 400m OF FRENCHS FOREST TOWN CENTRE
5 & 5a Gladys Avenue, Frenchs Forest comprises 1,020 m² of R3-zoned land, eligible for uplift to a 2.2:1 Floor Space Ratio (FSR) and 22m building height under Low & Mid Rise Housing reforms. Offering a prime corner position with a huge 57m frontage, the site is within 400m walking distance of the E1-zoned Frenchs Forest Town Centre and 300m from Northern Beaches Hospital. Extensive views across the Oxford Falls valley to West Head would be potentially available from the top floors, opening the opportunity for luxury, top floor apartments.
Development Potential:
Proximity to the Town Centre allows for an FSR of 2.2:1 and 22m height, supporting up to 2,244 m² Gross Floor Area (GFA).
This can accommodate approximately 20 apartments (average 97.6 m² internal), with a projected gross return of $36 million
Affordable Housing Bonus:
An additional 15% affordable housing component could allow a further 30% increase in FSR and height.
This scenario could yield approximately 26 saleable apartments (83 m² each) plus 6 rental apartments (63 m² each), with a projected gross return of $42 million.
Affordable rental apartments could generate an estimated net rental income of $1.27 million per year ($19 million over 15 years), and may be sold for about $7.6 million after the 15 year holding period
Call Mark Thorn now on (0419) 989 923 for pricing information or download the IM from the button below
HUGE 2,697m2 SITE OPPOSITE NORTHERN BEACHES HOSPITAL - GFA OF 8,870m2 AVAILABLE UNDER LMR/SENIORS/AFH
This huge site is arguably the best on offer in the Frenchs Forest release. The base land size is 2,697m2 of R3 zoned land with uplift to 2.2:1 FSR (20 meters height) under Low & Mid Rise Housing, yielding a GFA of 5,933m2.
The site boasts 2 street access with easy entry off quiet Gladys Ave and egress to Frenchs Forest Rd West via a large shared driveway, and fully complies with the DCP and LEP for the Frenchs Forest Town Centre.
Located within 400m level walking distance to bus stops and having a site area above 1,500m2 allows for further uplift under Seniors Living section 87, which results in an extra 15% FSR and height, yielding 55 apartments, each with 117 m2 internal living space, resulting in a Gross Return of approximately $132M.
An additional 30% increase in FSR and height is available by adding a 15% Affordable Housing component, resulting in a rentable portion of the tower and yielding a rental income that can convert to saleable floor area after 15 years. Under this scenario, the GFA increases to 8,870m2, allowing for 60 apartments of 109m2 internal, with 16 rental apartments yielding a nett rental of almost $22M over 15 years. The Affordable Housing apartments can then be sold after the 15 year period, further enhancing the profitability of this site.
Arguably the best investment opportunity on the North Shore currently, this site is a gold mine for the developer who can realise its potential.
Call Mark Thorn now on (0419) 989 923 for pricing information or download the IM from the button below
LOW RISE HOUSING SITE WITHIN 400m OF FOREST WAY SHOPPING CENTRE
For sale by Thorn Property is 23 & 25 Forest Way, Frenchs Forest. This aggregated, 1,441 m2 of R2 zoned land with a 55m frontage is located only 114m from Forestway Shopping Centre in Frenchs Forest.
Forestway Shopping Centre is one of nine areas on the Northern Beaches designated as a Town Centre for Low and Mid Rise Housing reforms[1].
Under the new housing reforms, 23 & 25 Forest Way can support:
· Up to 8 Terrace Houses with a Floor Space Ratio (FSR) of 0.6:1
· 4 Manor Houses (each with up to 4 apartments) with an FSR of 0.8:1[2]
The site's potential is further enhanced by its location in Zone 2 of the Frenchs Forest Town Centre rezoning area. This presents two development options:
Immediate development under Low & Mid Rise Housing at 0.7-0.8:1 FSR
Future development under Release 2 of the Frenchs Forest Town Centre plan, allowing for 22m high-rise buildings with 2.2:1 FSR[3]
Call Mark Thorn now on (0419) 989 923 for pricing information or download the IM from the button below
1 GLADYS AVENUE, FRENCH’S FOREST: 2.2:1 FSR, 22 m HEIGHT UNDER LMR
On offer is a 1,388 m² R3-zoned site strategically located across from the Northern Beaches Hospital and within 400m of the Frenchs Forest Town Centre. The property is suitable for various high-yield development opportunities including:
1. Low & Mid-Rise Housing:*
· Current GFA: 3,053 m² with a 22m building height limit.
· Supports up to 25 apartments (104 m² internal each).
· Estimated sales: $1.85M per apartment, generating a Gross Return of $46.25M.
· Costs: Approx. $32M, yielding a 30% profit margin.
2. Seniors Living (Section 87):*
· Bonus 15% FSR & Height increases GFA to 3,511 m².
· Potential for 28 apartments (106 m² internal each).
· Estimated sales: $17,300/m², yielding a Gross Return of $52M.
· Costs: Approx. $36M, maintaining a 30% ROI.
3. Seniors Living with Affordable Housing Component:*
· Bonus 30% GFA & Height for a 15% Affordable Housing Component
· Potential for 40 apartments (84 m² internal) and 10 Affordable (60 m² internal)
· Estimated sales: $17,773/m², yielding a Gross Return of $60M.
· Estimated rent (over 15 years): $11.385M
· Sales of Affordable apartments after 15 years: @ $20,000/ m² yielding $11.9M
· GR over 15 years: $37M on costs of $46M – 80.25% ROI
The site is adjacent to the Northern Beaches Hospital and within the Frenchs Forest Town Centre precinct, which is undergoing significant urban renewal under the Frenchs Forest Place Strategy 2041.
*All GR and FSR uplift estimates are approximate – buyers are advised to make their own estimates during DD
Call Mark now on (0419) 989 923 for pricing information
FOR SALE - 16a GLADYS AVENUE, FRENCHS FOREST
Potential for 5 Seniors Living apartments - all with stunning views
On offer is 1,197 m2 of R2 zoned land located 173 meters from the Frenchs Forest Town Centre development envelope.
With demand still strong for quality apartments and townhouses on the Northern Beaches, this site presents an ideal opportunity to build a 5-apartment or townhouse Seniors Living development (STCA). Each dwelling would benefit from stunning north facing views across the Oxford Falls Valley to West Head.
The site is within 400m walking distance to the Frenchs Forest Town Centre, which allows development under Low & Mid Rise Housing (LMR).
Demand for Apartment & Town House accommodation located close to Northern Beaches Hospital and the adjacent Rodborough Park Industrial Estate is high, with nearby Town House dwellings selling at over $20,000/ m2. (see comparable sales in IM. Download below)
DEVELOPMENT SITES - NSW COUNTRY & REGIONAL:
FOR SALE - 3 HILL STREET, PORT MACQUARIE
LAPSED DA FOR 9 APARTMENTS WITH COASTAL VIEWS. PRICED TO SELL.
FOR SALE - 3 HILL STREET PORT MACQUARIE
On offer is 1,100 M2 of gently sloping land carrying an expired DA for 9 apartments, 1.5km from the Port Macquarie town centre. Port Macquarie has enjoyed a 30.7% price increase in apartments over the last year.
3 Hill Street represents an unprecedented opportunity to unlock the potential of this unique site in one of the mid north coast’s most rapidly accruing markets. The coastal strip along Pacific Drive to Flynn’s Beach is one of the most picturesque tracts of coast on offer anywhere on the east coast. The opportunity here is to build a boutique block of 9 apartments within 200M of the iconic Flynn’s beach shopping precinct.
With pent-up demand for luxury apartment developments on the mid north coast from families, down sizers and sea changers alike, this development promises to be very popular with buyers.
Price Guide: $2.4M
Projected Yield: $11M
Call Mark Thorn now on (0419) 989 923
Does Your Home Have Development Potential?
Knowing the answer to the ‘Development Potential’ question is a once in a lifetime opportunity that can translate to hundreds of thousands of dollars.
It’s not a decision to be taken lightly, so you’ll need someone in your corner who knows the relevant laws and can walk with you step by step to unlock the secret potential of your home.
That requires someone who understands planning rules and regulations - and not just what can be achieved, but can guide you step by step to achieving up to 100% more for your home.
Thorn Property is a family owned real estate agency that specialises in development sales.
We have helped homeowners just like you to unlock the potential in their property and we’re here to help. If you’re thinking of selling, then this Development Site Assessment is the first step to identifying whether your home has development potential.
DEVELOPMENT SITES - SOLD OR UNDER OPTION:
UNDER OPTION - 22 KARINGAL CRESCENT, FRENCHS FOREST
DUPLEX SITE - FRENCHS FOREST
22 Karingal Crescent is situated on 569 m2 of R2+ zoned land located in a low traffic street yet close to shopping, transport and health care.
The site has a wide, 16.1m frontage, fanning out to 21.2m at the rear boundary. Zoned R2+ with an FSR of 0.9:1 and a height limit of 11 meters, it’s an ideal site for two large Duplexes, each with up to 256m2 of internal space.
DA’s have already been approved for Duplexes on 5 properties in Karingal Crescent, each on similar sized sites. To date the approval process has been relatively short, with an average of 4 months wait time from submission to approval.
Recent sales have achieved prices above $20,000/ m2 (see comparable sales list in this document) for new and near new duplex and semi-detached housing in the Frenchs Forest local area and adjacent Forestville,
Using comparable sales as a guide, GR should exceed $5M resale of the completed duplexes.
This is an easy-in, easy-out opportunity to create a profitable development on a short time-line. There is a shortage of new Duplex builds in Frenchs Forest and surrounding suburbs and when they do become available, they are very popular with buyers.
Click the button below to download our Information Memorandum for pricing and further information
UNDER OPTION - 12-14 GLADYS AVENUE, FRENCHS FOREST
4,704 SqM FRENCHS FOREST SENIORS LIVING SITE WITH GREAT VIEWS
On offer is 4,704 M2 of R2 zoned land located within 150m of the Frenchs Forest Town Centre development envelope and approximately 300m from the entrance to Northern Beaches Hospital.
12-14 Gladys Avenue is within a 400m level walk to buses, has above 20m frontage at the building line and would support around 21- 23 self-care Seniors Living apartments of approximately 102-112 M2 internal at a 0.5:1 FSR.
At current rates achieved for comparable Seniors Living apartments in surrounding suburbs, the Gross Return (GR) of the site is approximately $50-52M. Allowing for costs of approx. $37.5M, the sale price of the combined site should show a 25-28% ROI.
Demand for well-appointed Seniors Living apartments on the Northern Beaches is high. Buyer preference is for sites located on low traffic side streets with abundant views and light, close to amenities and offering a peaceful and tranquil lifestyle. 12-14 Gladys Avenue ticks all the above boxes for a successful Seniors Living development.
The price is right for this site and the terms are flexible. The site comes complete with architectural plans, landscape plans, recent survey, site drainage easement in place and an approved Seniors Living development under construction close by.
UNDER OPTION - 142 FRENCHS FOREST RD WEST & 1 BLUEGUM CRESCENT, FRENCHS FOREST
R3 ZONED, 6 STOREY NORTHERN BEACHES SITE IN NEW HOSPITAL PRECINCT
UNDER OPTION
1,461 M2 of level land zoned R3 Medium Density with commencement scheduled for June/July 2022. This corner site is directly opposite the Precinct Town Centre and carries a 17.5M roof height and a 2:1 FSR.
142 French’s Forest Rd and 1 Bluegum Crescent represent an unprecedented opportunity to build quality apartments for the Northern Beaches market, where demand for new, 1 & 2 bedroom apartments constantly outstrips supply. Additional uses permitted include Medical Centre, Business Offices and Shop Top housing with ground floor commercial.
The site is diagonally across from the proposed Town Centre, which incorporates a ‘Boulevard’, Commercial/retail strip and Market Strip. It is directly across from entry to the ‘Open Space’ recreational area.
This corner site offers access from a low traffic street (Bluegum Ave) and each-way entry to French’s Forest Road West via an intersection with traffic lights.
Future transport upgrades will ensure a swift journey to the city, with a bus centre to be located 50M to the west of the site.
Savvy developers are already snapping up sites, so be quick as apartments on this corner site will be highly sought after due to its location, aspect, accessibility & flexibility.
Purchase Price:
$7.1 – 7.4M ($4,807 - $5,044/ M2)
Settlement:
Delayed settlement or Put & Call option (releasable deposit)
Call Mark Thorn now on (0419) 989 923
SOLD - 6-8 NAREE ROAD, FRENCHS FOREST
1,948 SqM of R2 zoned land located 234m from a B4 zoned shopping centre
SOLD - 6 & 8 NAREE ROAD, FRENCHS FOREST
On offer is 1,948 SqM of R2 zoned land located 234m level walking distance from a B4 zoned shopping centre, 250m level footpath to bus stops and 778m to the new Northern Beaches Hospital and the upcoming Frenchs Forest Town Centre.
The site is in Zone 2 for the Frenchs Forest Town Centre rezoning and carries potential for 1:1 FSR, 4 storey developments. Zone 1 was Gazetted in December 2021 and is the only new rezoning on the Northern Beaches. There is currently no published time-frame for the release of Zone 2.
The site complies fully with the new planning controls for Seniors Living (July 1, 2022) and would potentially support 13 x 70SqM apartments with a height limit of 11.5m. Alternatively, the site could be developed as 2 x Boarding Houses, each containing 12 apartments (24 apartments total).
The opportunity presents itself here to either purchase the sites currently on offer and develop them now under the existing NSW SEPP (housing) 2021 or live in or rent until the site is rezoned.
DOWNLOAD THE REPORT BELOW FOR AGGREGATION AND PRICING INFORMATION - OR CALL MARK THORN ON:
SOLD - 26-28 WILLIAM STREET, PORT MACQUARIE
SOLD - 26-28 WILLIAM STREET, PORT MACQUARIE
26-28 William Street, Port Macquarie - recently approved for 15 x luxury apartments of around 195 SqM (internal) each. Owners will buy back entire ground floor. Get in quick - won't last!
Held by the same family for over 70 years, this 1,170SqM site is the last undeveloped high density beach property left in Port Macquarie. Surrounded by quality apartment developments, these 2 adjoining blocks represent an unprecedented opportunity to build 7 levels of high quality apartments – each having ocean views to the east and the north.
The corner site is located directly opposite Town Beach and offers uninterrupted ocean views right up the coast. The surrounding apartment strip is highly sought after by cashed-up retirees seeking quality beach front residences.
26-28 William Street is zoned ‘High Density Residential’ and comes with a recently approved DA for a 7 storey residential flat building containing 15 apartments with underground parking.
The location is close to all amenities and situated on a corner site with access to the rear via a low-traffic lane.
This is the last beach-front development left in Port Macquarie and represents an unprecedented opportunity for the right developer.
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