5 Primrose Ave, Frenchs Forest NSW 2086
812 m² R3-zoned corner site with a wide 40.9 m frontage at 5 Primrose Avenue, Frenchs Forest
Eligible for 2.2:1 FSR and 22 m height under Low & Mid Rise Housing reforms, within 400 m of Frenchs Forest Town Centre
Strong location fundamentals, 500 m from Northern Beaches Hospital and close to E1-zoned town centre amenities
Development capacity of ~1,786 m² GFA, supporting approximately 16 apartments with a projected gross return of ~$32 million
Affordable housing bonus potential allows up to 30% uplift in FSR and height, enabling ~26 apartments (20 sale + 6 rental)
Attractive long-term returns, with estimated $49 million gross return and ~$1.8 million net rental income over 15 years
Site Details
5 Primrose Avenue, Frenchs Forest comprises 812 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 40.9 m frontage, the site is within 400m walking distance of the E1-zoned Frenchs Forest Town Centre and 500m from Northern Beaches Hospital. Extensive district and coastal views 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 1,786 m² Gross Floor Area (GFA).
This can accommodate approximately 16 apartments (average 86 m² internal), with a projected gross return of $32 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 20 saleable apartments (86 m² each) plus 6 rental apartments (56 m² each), with a projected gross return of $49 million.
Affordable rental apartments could generate an estimated net rental income of $1.8million over 15 years, and may be sold for about $11.9 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
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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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