13 Gladys Ave, Frenchs Forest NSW 2086
2,697 m² R3-zoned site with Low & Mid Rise uplift to 2.2:1 FSR.
Up to 5,933 m² GFA (20 m height) under base controls.
Dual street access via Gladys Ave and Frenchs Forest Rd West.
Seniors Living uplift supports ~55 apartments with ~$132M GRV.
Affordable Housing bonus increases GFA to 8,870 m².
Up to 60 apartments plus rental income convertible after 15 years.
Site Details
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
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Phone: 0419 989 923
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About Thorn Property
Thorn Property is the Northern Beaches’ specialist in development site sales, helping buyers and sellers take advantage of opportunities created by NSW planning reforms such as the Low and Mid-Rise Housing Policy. Led by Mark, a local expert in rezoned land sales, our agency offers unmatched insight into the market around the 9 approved Town Centres under the new LMR legislation. Whether you’re looking to purchase prime land for development or understand the new value of your property, we provide the guidance and expertise to help you make your next move with confidence.
Testimonials
“From the start of the process of selling our home to the very quick sale, Mark calmed our nerves and helped us breeze through the process. Mark’s professionalism in all facets of the process was greatly appreciated and we would have no hesitation in recommending him as an agent for other vendors.”
“Mark has worked diligently and professionally over the last 12 months to achieve a great result on a relatively unique joint land sale with our neighbour. He has been very responsive and tireless in his efforts to achieve this outcome”
“We would heartily recommend Mark. We were very impressed with the care and attention to detail throughout the preparation, negotiation and sale of our house in Bilgola Plateau by Mark Thorn. We would heartily recommend him to anyone looking for an honest and respectful agent.”
“Mark’s knowledge of the Avalon and Sydney market impressed us right away. We have no hesitations in recommending Mark as he proved himself a professional Real Estate Agent.”
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