Demand for residential real estate in Sydney’s sought-after northern beaches is beginning to pick up across as flexible working arrangements push more city-dwellers towards cheaper and more spacious homes.
In Warriewood, 26 kilometres north of the Sydney central business district, a 12,623sq m development site has sold to a local private developer for $11.5 million.
The land located between 110 and 121 Dove Lane, is one of the last pockets released for housing in the Warriewood Valley and is zoned for medium-density homes.
The site, surrounded by parklands, has approval for roads and associated infrastructure and will allow an incoming developer to deliver around 33 residential dwellings.
JLL's Ben Hunter and Dylan McEvoy managed the sale of the Dove Lane residential development site following an expressions-of-interest campaign.
McEvoy said there had been a renewed willingness in recent weeks from developers looking to pad out their residential pipelines, with Northern Sydney locations experiencing continued population growth.
“We are witnessing a renewed willingness from developers looking to build residential pipeline for 2021 in blue ribbon locations like Warriewood,” McEvoy said.
“Such areas are continuing to display strong sale activity that we saw pre Covid-19.”
Nearby, developer Knowles Group has lodged plans for a $31 million residential development from 25 to 27 Warriewood Road.
The project, set on an 8,177sq m site, will include construction of two three-storey apartment buildings with 32 apartments above a basement carpark.
It will also contain 10 semi-detached homes and a detached house, community title subdivision, a new internal laneway, associated landscaping and site works.
If approved, the development, on part of an approved subdivision bounded by Warriewood Road and Lorikeet Grove, will be built adjacent to the Arcare Warriewood aged care facility which is close to the beach.
While plans are still before council, off-the-plan apartments are already being advertised online for as much as $1.8 million for three-bedroom formats.
North of Sydney, Newcastle-based developer Winarch Capital has secured approval for a $235 million redevelopment of the 90-hectare Morisset Golf Course, in Lake Macquarie.
The five now-approved development applications were proposed a year ago as part of a broad redevelopment that also includes a yet-to-be-approved outdoor concert venue.
Winarch will now split and develop the site into four precincts, to collectively be known as Cedar Mill, consisting of 427 dwellings, a family and community space and a cultural, arts and events space. Part of the site will be sold on to Ingenia Communities.
The development will also feature tourism accommodation and lifestyle living, with 252 camp sites planned, 48 cabins, restaurant, café and Australia’s largest water splash pad, valued at $2 million.
Stage one includes a $10 million refurbishment of the former clubhouse, which will be transformed into a providore market, an indoor-outdoor cafe with capacity for 336 people, and a restaurant and function room with capacity for 120 people.
Cedar Mill general manager Kyle McKendry said the eventual community space would be used for family gatherings, weddings entertainment and community events.
“Stage 1 will span across five hectares, of which four hectares will be gardens including a children’s maze, we will grow fresh produce on site to be used in the café and restaurant,” McKendry said.
“Once we are up and running, we will also look to develop educational experiences by engaging with the local schools to tour and participate in activities in the gardens.”
The development’s yet-to-be-approved sixth application will include an events space, which will feature an amphitheatre with a capacity to host 30,000 people, taking up 40 per cent of the entire site.
Cedar Mill said the project, which is on track to open in late-2021, could contribute an estimated $790 million to the local economy and create 1,124 jobs during construction.