Australia’s Leading Commercial Property Magazine EDITION 11
Prestigious Sydney development snapped up for $245 million by Meriton Apartments Group

It was a developer’s dream – 11 hectares of luxury, waterside, residential land only 20 minutes from the Sydney CBD. Masterplan-approved, it was the last remaining development site in Sydney’s prestigious Eastern Suburbs. There would never be an opportunity like this again.

So when Tim Holtsbaum, Knight Frank’s Director, Site Sales, NSW, met with the vendor for the first time, he knew it was going to generate strong competition.

“We’ve seen some large residential site sale transactions occur nearby in the South Sydney market but nothing of this prestige with the coastal lifestyle and beach views. Plus, being Sydney’s last major Eastern Suburbs waterside development remaining, there was bound to be a lot of interest.

“Sydney’s property market is experiencing such strong demand that an ocean front location within such close proximity to the CBD is always going to be a solid investment. Meriton will enjoy the benefits of this site for a long time to come.”

Sold via an Expressions of Interest campaign for $245 million, the Little Bay Cove site is primed for subdivision with existing infrastructure, including roads and landscaping, already complete. The site is masterplan-approved for a combination of singlelot housing, town houses and luxury apartments – with an opportunity to add value by increasing the number of dwellings. The homes would be ideal for a range of occupiers, including young families and downsizers.

Eugene Evgenikos, Knight Frank’s Head of Metropolitan Sales, NSW, said access to Little Bay Cove will be greatly improved thanks to the NSW Government’s upcoming infrastructure investment.

“Sydney and surrounding suburbs are currently undergoing a massive transformation, with multiple infrastructure investments unlocking areas of Sydney which weren’t previously as accessible. The new CBD and South East Light Rail project, currently under construction down Anzac Parade, will join Little Bay Cove directly to the CBD. 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.

Located just 20 minutes’ drive from the Sydney CBD and just 10 minutes’ drive from Sydney’s international airport, Little Bay Cove is nestled along Sydney’s iconic beaches, stretching from Bondi, Bronte, Coogee and out to Little Bay. 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.

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