Semi-built development site in Katoomba listed

A semi-built development site in Katoomba is for sale for the third time in four years.

It has remained half built since at least 2012, according to its prior marketing.

The property on just over one hectare was bought by Zetland based BM Unit Developments, who paid $1.8 million in 2014.

It's been heavily traded among development groups, selling for $1.45 million in 2008 and $1.5 million in 2013 prior to the 2014 sale.

The sale through Matthew Gale and Colleen Stockley at McGrath Wentworth Falls/Leura comes with council approval for 21 self care retirement villas.

They have a $2 million to $2.2 million price guide for its May 20 auction.

Numerous dwellings are at various stages of construction, some only at the foundations stage.

The derelict Gracehill Lodge sits on the parcel.

Sandstone gate piers lie at the entrance and timber rails frame the property that overlooks Jamison Valley.

It's a gabled single-storey four bedroom home that sits at the end of a tree lined, stone edged driveway.