142 Frenchs Forest Rd West, 1–5 Bluegum Crescent, Frenchs Forest, NSW, 2086
Approved DA for 44 apartments
6,376m² GFA with 22m height under Low & Mid-Rise Housing
Up to 30% additional uplift via 15% Affordable Housing
R3 zoned site with significant FSR & height increases
Overall 31.6% FSR uplift under LMR policy
Rear lots benefit from 110% FSR increase and near-doubling of height
Potential to expand site with adjoining 2,812m² of R3 land
Ultimate GFA potential of up to 12,562m² (subject to consolidation)
High efficiency design achievable (up to 87%)
Forecast gross realisation of ~$115M
Strong long-term upside via Affordable Housing hold & sell strategy
No DA risk — existing approval already in place
Site Details
Seldom will you find an opportunity like this: an R3 zoned, residential site poised and ready for a fresh developer to get in and take advantage of the recent changes in Low & Mid Rise Housing (LMR) policy.
This site already carries an approved DA for 44 apartments under the Warringah LEP, so there’s no contention around whether or not it can be developed, there’s only a need for new investment to take advantage of the recent uplift in FSR and height:
The rear 2 lots (3&5 Bluegum) have had a massive 110% increase in FSR and almost a doubling of height since the current DA was lodged
The 2 front lots have had a 10% increase in FSR and a 5m increase in height
All up, the site has received an overall 31.6% increase in FSR under LMR and because the Low & Mid Rise Policy works in tandem with Affordable Housing, an extra 30% increase in FSR and Height, can be gained for a 15% Affordable Housing component.
There is even room for expansion, should it be necessary, with a further 2,812 m2 of R3 zoned land adjoining the rear boundary. This could potentially lift the overall GFA to 12,562 m2.
POTENTIAL DEVELOPMENT OUTCOMES UNDER LMR/AFH
Develop under Low & Mid-Rise Housing to arrive at a base GFA of 6,376 m2 with 22m height.
Add the extra 30%[1] granted under Affordable Housing resulting in:
GFA of 8,288 m2 (2.86:1 FSR)
87% efficiency achievable resulting in NFA of 7,211
82 apartments at 72 m2 internal plus balconies (priced at $1.4M ea - $19,415/ m2)
15 Affordable Housing apartments at 72 m2. Rented @ $550/week
3 Council Affordable Housing apartments at 72 m2 as council contribution (to be gazetted in 2026)
GR of $115M achievable on sales
Profit of $21.7M on sales achievable
Net Rental income of $5.15M over 15-year period ($550/week/apartment)
Sell Affordable Housing units after 15 years to achieve further projected profit at future market value of around $30M (likely $30k/ m2)
Download the IM below for pricing and settlement details.
Existing plans and permissions can be accessed here
Request NDA for access to existing Option Agreements.
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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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