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11 Hectare Little Bay Development Site Set To Sell

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An 11-hectare waterfront residential development site set in Sydney’s prestigious Eastern Suburbs is announced to the market, and is expected to sell for above $280 million.

Located off Anzac Parade in Little Bay, Sydney, the site provides existing infrastructure, including roads and landscaping, and is already complete and the site is masterplan-approved for a combination of single-lot housing, town houses and luxury apartments – with an opportunity to add value by increasing the number of dwellings.

The sale of the property is being managed by Knight Frank’s Tim Holtsbaum and Eugene Evgenikos in conjunction with JLL’s Ben Hunter and Sam Brewer.

Knight Frank Director of Site Sales in NSW Tim Holtsbaum said it is one of the last Eastern Suburbs coastal subdivisions available for development.

“We expect Little Bay Cove to generate significant interest from both local and offshore developers due to its unique characteristics. It is located just 20 minutes’ drive from the Sydney CBD, near all transport and amenity, and is nestled along Sydney’s iconic beaches, stretching from Bondi, Bronte, Coogee and out to Little Bay.

“Demand for prime residential development sites – especially those where scale can be achieved – continues in the Sydney market,” said Mr Holtsbaum.

Knight Frank Head of NSW Metropolitan Sales Eugene Evgenikos said Little Bay Cove offers an opportunity for a developer to secure an approved, community-based residential development with an ability to add value through increasing the number of dwellings achievable on site.

"There is scope for increased density, subject to council approval.

“Little Bay Cove will benefit from the NSW Government’s CBD and South East Light Rail project, currently under construction down Anzac Parade, providing links to the CBD. It is also just 10 minutes’ drive from Sydney’s international airport. Surrounded by landscaped grounds and ocean views, this property offers a year-round idyllic lifestyle and will be very much sought after by its future residents.”

Little Bay Cove features over 11 hectares of land including civil works complete along with masterplan development consent which allows for immediate commencement. All remediation, site works, roads, park landscaping and infrastructure have been completed. The site is fully serviced with all required amenities, including water, electricity and gas.

Fronting Little Bay Beach, the site neighbours four of Sydney’s premium golf courses, including The New South Wales Golf Club, St Michaels Golf Club and the Coast Golf Club. Express bus and future light rail services provide convenient transport to the CBD.

The property will be marketed for sale via an Expressions of Interest campaign, launching 28 February 2017.

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Article originally posted at: https://theurbandeveloper.com/articles/11-hectare-little-bay-site-set-sell-280-million