WINIM has acquired a unique parcel of land for $11.25 million within the Southern Sydney suburb of Jannali, after an amalgamation of five detached residential dwellings.
Located at 17-23 Mitchell Avenue and 78 Sutherland Road, Jannali, the five dwellings are situated on a site area of approximately 4,143 square metres and benefits from expansive district, Georges River, Bay and Sydney CBD views to the north-eastern elevation. The views were achieved from the upper levels of a redevelopment of the site.
The site area is 100 metres from Jannali Railway Station and Jannali Shopping Village.
After negotiating the sale on behalf of five individual owners, Savills' Neil Cooke and Stuart Cox said the site as an amalgamated parcel now possessed an attractive R4 High Density Residential zoning carrying with it a floor space ratio of 1.2:1 and maximum building height of 16 metres (5 storeys).
Having acquired the site WINIM, can now move on with a development proposal they submitted to Sutherland Shire Council.
The proposal was approved and WINIM then engaged Rothe Lowman Architects to design their concept for a residential development of 64 apartments.
“Rarely does such a large land holding, carrying with it a R4 high density residential zoning, get offered to the market, with the added convenience of close proximity to the local railway station and local shopping village” Mr Cooke said.
“There are very few competing developments available in this established location and there is excellent demand for new apartments with limited new stock available."The site boasts approximately 62 metres of street frontage along Mitchell Avenue and approximately 73 metres along Sutherland Road.
Jannali is within close proximity to Sutherland, Cronulla Beach and local shopping facilities with transport via Rail providing direct access to the Sydney CBD.