Not viable as a standalone site

Address locked, Randwick

1 house today → 2 homes as dual occupancy. About 500 m², 25 m frontage, zone R3.

Residual land valueA$2.5m

Likely ask (1 house)A$3.8mFrom the 1 July 2025 land value x 1.15

Headroom-A$1.3m

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Every option the rules allow

Option	Homes	Storeys	GFA	Realisation	Costs	Residual land value	Headroom	Profit at likely ask
Dual occupancyLow and Mid-Rise · FSR 3:1 · 26 m	2	2	500 m²	A$7.0m	A$2.3m	A$2.5m	-A$1.3m	-A$230k-3% on cost · -3% on revenue
Cost stack Construction 500 m² at A$3,700/m²A$1.9m DemolitionA$45k Consultants, DA and certification (9%)A$170k Contributions (A$28,000 per new home)A$28k Contingency (5%)A$100k 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$3.8m instead leaves -A$230k pre-tax on a total development cost of A$6.5m.

Site area: About 500 m² (12 m by 40 m)
Street frontage: About 25 m (measured against the road corridor)
Zone: R3 Medium Density Residential · Randwick Local Environmental Plan 2012
LEP controls: FSR 3:1 · height 26 m · minimum lot not mapped
Nearest nominated centre: About 100 m to Randwick town centre and light rail station (straight line) · Within 400 m of a nominated centre
Land value: About A$3,250,000 at 1 July 2025, NSW Valuer General · from A$3,000,000 at 1 July 2021 (+10%)

1 adjoining houses share a boundary with this site. Members see them.

#4 · amalgamation 2 houses → 20 homes

Residual land valueA$14.0m

Likely askA$7.5m

HeadroomA$6.5m

1,000 m² · Townhouses · R3 · address locked