RECENTLY SOLD
1 GLADYS AVENUE, FRENCH’S FOREST
SOLD - ATTRACTIVELY PRICED LMR SITE - 22m HEIGHT, 2.2:1 FSR
SOLD - Strategically Positioned LMR Site Opposite Frenchs Forest Town Centre
This prime 1,388 m² R3-zoned site is for sale under Private Treaty. The site is in the Low & Mid Rise envelope for Frenchs Forest Town centre, receiving a 2.2:1FSR and a 22m height allocation, giving it a GFA of 3,053m².
Positioned directly opposite the Northern Beaches Hospital and diagonally adjacent to the emerging Frenchs Forest Town Centre precinct, the location benefits from recent NSW Government planning reforms, which permit increased density and height for residential developments near key infrastructure.
Development Potential
Standard Low & Mid-Rise Housing:
Maximum height: 22 metres (6 storeys) under current zoning
Gross Floor Area (GFA): 3,053 m²
Unit yield: ~25 apartments (104 m² average internal size)
Projected sales: $1.85M/unit (based on recent comparables at $17,819/m²)
Gross return: ~$46.25M
Estimated costs: $32M
Affordable Housing:
Increased GFA: 3,969 m² (+30% bonus floor space and height)
Unit yield: ~38 apartments for sale (77 m² average size), 10 apartments for rental (52 m² average size)
Projected sales: $19,417/m² ($57M gross return)
Estimated costs: $48M
Rental: $15.5M (over 15 years)
Sale of rental apartments: $10.4M (after 15 years - calc at today's prices)
Strategic Advantages:
Location:
Direct access to Northern Beaches Hospital (1,200+ staff)
Adjacent to Frenchs Forest Town Centre (1.5 ha public space, retail, and upgraded transport links)
Walking distance to planned rapid bus services1
Policy Alignment:
Falls within 400m radius of Frenchs Forest Precinct, qualifying for maximum 22m height under Stage 2 housing reforms
Eligible for affordable housing incentives
Build-to-Rent Potential:
50% land tax reduction for eligible projects
Foreign investor surcharge concessions
Strong rental demand from hospital workers and downsizers
Market Context
Recent comparable sales: Apartments nearby consistently selling at $20,000/SqM (see IM)
The site aligns with the Frenchs Forest 2041 Place Strategy, which aims to deliver 5,360 new homes and 2,300 jobs by 2041. Infrastructure upgrades include $37.3M allocated for transport improvements and green spaces.
Financial projections assume current market conditions and exclude contingencies. All figures subject to due diligence.
Call Mark now on (0419) 989 923 for terms, or download the IM from the button below
SOLD: 22 KARINGAL CRESCENT, FRENCHS FOREST
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SOLD - 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.
Call Mark now on (0419) 989 923 for other sites like this
6-8 NAREE ROAD, FRENCH’S FOREST
SOLD - LOW RISE SITE - 7 TERRACES, PRICE: $7.113M
SOLD - SEPTEMBER 2023 - $7.113M
6-8 NAREE ROAD, FRENCHS FOREST,
1,948 SqM site with Potential for Seniors Living, Boarding House development (STCA) or Dual Family Living
6 & 8 Naree Road together form a 1,948 SqM site to be sold in-line. The aggregated site offers a range of opportunities including:
• Develop as a Boarding House or Seniors Living site,
• Live in (ideal for a big or extended family) or
• Rent out and wait for rezoning.
This site complies with the new planning controls for Seniors Living (July 1, 2022) and would potentially support 13 x 70SqM apartments (STCA). Alternatively, the site could be developed under Co-living Housing for around 24 ‘build to rent’ apartments (STCA) each renting for around $400/week.
Located in Zone 2 for the Frenchs Forest Town Centre rezoning, 6-8 Naree Road is slated for 1:1 FSR, 4 storey apartments. (Zone 1 was Gazetted in December 2021)
SOLD - RECORD PRICE FOR AREA - SEPT 2023
SOLD - 26-28 WILLIAM STREET, PORT MACQUARIE
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HIGH RISE APARTMENT SITE OPPOSITE TOWN BEACH
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.