CURRENT DEVELOPMENT SITE LISTINGS:
FOR SALE - 13 GLADYS AVENUE, FRENCHS FOREST
Seniors Living Super Site
On offer is 2,697m2 of R3 zoned land with an FSR of 1:1 and 13m building height.
Located within 150m of the E1 zoned Frenchs Forest Town Centre and approximately 300m walking distance to the Northern Beaches Hospital, 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.
This site shows clear potential for profit under Seniors Living section 87, which results in an extra 15% FSR and height, yielding 28 apartments, each with 105 m2 internal living space, resulting in a Gross Return of approximately $64-67M. Allowing for costs of approx. $51M, the finished sales (based on recent, relevant sales) should show a 21-24% ROI.
The existing 1:1FSR of this site increases the available FSR for Seniors Living development by 130% from 0.5:1 to 1.15:1, yet there is no decrease in quality of location. It is not on a main road, it adjoins a park, it has tranquil views and is close to all amenities.
An additional advantage of 13 Gladys Avenue’s proximity to an E1 zoned Town Centre is the potential for further uplift under Low & Mid-Rise Housing. In this instance, the FSR should lift to 2.53:1 and 20m height, with a resulting projected lift in ROI to 28-31%
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
FOR SALE - 51-53 BLUEGUM CRESCENT, FRENCHS FOREST
MU1 ZONED MIXED USE SITE OPPOSITE FUTURE FRENCHS FOREST TOWN CENTRE
FOR SALE - FUTURE MEDICAL CENTRE OR SHOP TOP RESIDENTIAL 200m TO HOSPITAL - OPPOSITE TOWN CENTRE
On offer is a 1,419 SqM corner site only 200 meters from the entrance to Northern Beaches Hospital. 51-53 Bluegum Crescent presents an ideal location for a Medical Centre with Specialist Rooms, a Shop-Top apartment complex with upper level views to Chatswood and the ocean, or a mix of both (STCA). The handy B4 zoning allows for a 17.5 meter building height on a 2:1 FSR.
Sites in the current release of Northern Beaches Hospital Precinct are selling out - with this site being one of only 2 developable B4 sites still remaining, and the only one currently available on the market.
Situated in the 'Neighbourhood Centre' section of the new Town Centre development, this corner site offers entry off a low traffic street and frontage to the new 'High Street' of the Town Centre.
FEATURES:
200 meters from the entry to Northern Beaches Hospital
2:1 FSR, 17.5M height
Almost square, flat building site
Main Road frontage with access from low traffic side-streets
Town Centre over the road, offering easy access to cafés restaurants, shopping and commercial hub
New proposed bus interchange 195 meters to the west
Views to Chatswood and ocean available from upper floor apartments
Will appeal to a variety of buyers including hospital staff, investors, local families and downsizers
DOWNLOAD THE REPORT BELOW FOR AGGREGATION AND PRICING INFORMATION - OR CALL MARK THORN ON:
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.
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.
UNDER OPTION - 142 FRENCHS FOREST RD WEST & 1 BLUEGUM CRESCENT, FRENCHS FOREST
R3 ZONED, 6 STOREY NORTHERN BEACHES SITE IN NEW HOSPITAL PRECINCT
UNDER CONTRACT
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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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.