DA Approved Boutique Development Site

SOLD

22-24 Lagoon Street

Narrabeen NSW 2101

Land

FOR SALE

1114m2

Full Information memorandum, all planning, approvals, reports and supporting documents available please email agent for access.

Raine and Horne Projects is pleased to present to the market a rare, boutique luxury residential apartment development site on the exclusive peninsular of land between Narrabeen Beach and Narrabeen Lake on the Northern Beaches of Sydney. The site is located on the corner of Wellington Street and Lagoon Street Narrabeen Beach. The current owners have been granted a Development Approval for a scheme comprising of 9 luxury SEPP 5 seniors living apartments with lift access, ample parking and many with direct lake views.

- Total land size 1,114sqm (Level and detail survey available)

- 9 Luxury apartments & 18 car spaces approved DA

- Targeting the downsizers and owner occupiers market

- Current rental income to offset holding costs is approximately $119,080 pa

- Outgoing costs is approximately $30,121 pa

- Corner block position with easy and efficient access

- Low side access for efficient basement excavation

- Level walk to both Narrabeen Beach and Lake

- Direct access to main transport links to the city and west by both bus and car

The area is fantastic and has been undergoing a gentrification through low rise development over the past 5-10 years and offers a beach lifestyle with level access to all amenities including restaurants, supermarket and local strip retail along Pittwater Road. There is direct access to express city buses within 200m as well as the vehicular corridor of the Wakehurst Parkway and Mona Vale Road to enable easy access to the city and the west.

Raine and Horne Dee Why/ Collaroy is the strongest project marketing and site sale agency on the Northern Beaches, having sold over 80 projects totalling $13 billion in value and sold over 1700 properties off the plan. We can provide projected revenues, sell through rates and examples of our previous projects sales and success to give you confidence in the gross realisation and the sell through rate you require.

What excites us most as the selling agent is the end product that can be produced. The design has been pitched as a luxury development but not at the top of the market to ensure there is not a lot of competing stock and to ensure there is plenty of buyer competition. The properties are aligned with owner occupiers and downsizers who we see as the strongest sector in today's market. We have strong confidence in the ability make the appropriate sales for you to get construction underway.