Address locked, Kensington

3 houses today → about 15 homes as townhouses. About 1,200 m², 50 m frontage, zone R3.

Residual land valueA$8.5m

Likely ask (3 houses)A$6.0mFrom the land values x 1.15

HeadroomA$2.5m

Gain over buying separatelyA$1.1m

Claimed

Claimed until 4 Feb 2027

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Every option the rules allow

Option	Homes	Storeys	GFA	Realisation	Costs	Residual land value	Headroom	Profit at likely ask
TownhousesLow and Mid-Rise · FSR 2:1 · 23 m	15	2	2,500 m²	A$30.0m	A$12.0m	A$8.5m	A$2.5m	A$7.0m37% on cost · 24% on revenue
Cost stack Construction 2,500 m² at A$4,100/m²A$10.0m DemolitionA$140k Consultants, DA and certification (9%)A$900k Contributions (A$28,000 per new home)A$375k Contingency (5%)A$550k Then selling costs 3%, GST on the margin, finance 7.5%, stamp duty 5.5% and a 20% developer margin solve for the land. Buying at the likely ask of A$6.0m instead leaves A$7.0m pre-tax on a total development cost of A$20.0m.
Apartments, up to 8 storeys + affordable housing bonusLow and Mid-Rise + Chapter 2 bonus (15% affordable) · FSR 2.6:1 · 29.9 m	30	8	3,000 m²	A$40.0m	A$22.0m	A$5.5m	-A$500k	A$5.5m17% on cost · 13% on revenue
Cost stack Construction 3,000 m² at A$5,500/m²A$18.0m Basement parkingA$1.1m DemolitionA$140k Consultants, DA and certification (9%)A$1.7m Contributions (A$28,000 per new home)A$800k Contingency (5%)A$1.0m Then selling costs 3%, GST on the margin, finance 7.5%, stamp duty 5.5% and a 20% developer margin solve for the land. Buying at the likely ask of A$6.0m instead leaves A$5.5m pre-tax on a total development cost of A$30.0m. Includes 15% affordable housing at 65% of market.
Apartments, up to 6 storeysLow and Mid-Rise (400 to 800 m) · FSR 2:1 · 23 m	25	6	2,500 m²	A$32.5m	A$17.0m	A$5.5m	-A$500k	A$4.0m16% on cost · 12% on revenue
Cost stack Construction 2,500 m² at A$5,500/m²A$14.0m Basement parkingA$850k DemolitionA$140k Consultants, DA and certification (9%)A$1.3m Contributions (A$28,000 per new home)A$600k Contingency (5%)A$800k Then selling costs 3%, GST on the margin, finance 7.5%, stamp duty 5.5% and a 20% developer margin solve for the land. Buying at the likely ask of A$6.0m instead leaves A$4.0m pre-tax on a total development cost of A$25.0m.
TerracesLow and Mid-Rise · FSR 2:1 · 23 m	8	2	1,250 m²	A$16.0m	A$7.0m	A$4.3m	-A$1.8m	A$275k2% on cost · 2% on revenue
Cost stack Construction 1,250 m² at A$4,300/m²A$5.5m Basement parkingA$275k DemolitionA$140k Consultants, DA and certification (9%)A$500k Contributions (A$28,000 per new home)A$140k Contingency (5%)A$325k Then selling costs 3%, GST on the margin, finance 7.5%, stamp duty 5.5% and a 20% developer margin solve for the land. Buying at the likely ask of A$6.0m instead leaves A$275k pre-tax on a total development cost of A$14.0m.

Site facts

Houses: House, 600 m² House, 250 m² House, 350 m²
Site area: About 1,200 m²
Street frontage: About 50 m (measured against the road corridor)
Zone: R3
Nearest nominated centre: About 750 m (straight line) · 400 to 800 m from a nominated centre
Land value: About A$5,000,000 at 1 July 2025, NSW Valuer General (the houses together)
Notes: DA on a house (Determined).