Site with apartment approvals in Sydney’s North Shore listed: Savills

A development site with approval for nearly 100 apartments in Sydney’s North Shore has been listed for sale through Savills.

The site at 2-8 Pymble Avenue and 2-4 Everton Street, Pymble comes with Development Approval for residential located within one of Sydney’s prestigious north shore suburbs.

According to Savills, the influx of residential development sites for sale throughout Sydney has surged in the past 12 months, but the Pymble site with 7,879 sqm area already comes in with all the approvals. 

This site currently encompasses a consolidated single registered title of land containing three existing detached single and double storey dwellings. 

The property is zoned R4 High Density Residential under the Ku-Ring-Gai LEP 2012 with a height limit ranging between 11.5 and 17.5 metres and a blended FSR of 1:1.

The site is DA approved for the construction of 98 oversized residential apartments and 1 x 100sq m ground floor neighbourhood shop together with basement parking for 156 vehicles. 

The DA Approved Gross Floor Area is 8,547sqm* and the site is perfectly positioned at the top of a ridge to capitalise on the views back towards the Sydney CBD and the Blue Mountains.

It is close to public transport. 

The marketing is being done by Neil Cooke, Stuart Cox and Johnathon Broome of Savills Australia.

“In 2017, the amount of DA approved sites for circa 100 apartments has completely dried up particularly in blue chip areas such as Pymble on Sydney’s North Shore,” said Neil Cooke.

He added that the Draft Construction Certificate has already been issued for the site, and it states that all Pre-CC Conditions of Consent have been satisfied, and confirms that only the payment of the standard contributions is required in order for the Construction Certificate to be immediately finalised.

Cox added that there was “excellent continuing demand for premium residential apartments” in this location as evidenced by the success of recent project campaigns released within Pymble and surrounding suburbs.  

The site is being offered through expressions of interest with the EOI closing on October 19.