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Development › Crows Nest › Site #2

Standalone site

Address locked, Crows Nest

1 house today → about 170 homes as apartments, up to 46 storeys. About 2,250 m², 60 m frontage, zone MU1.

Residual land valueA$65.0m
Likely ask (1 house)A$8.5mSuburb median formula (no land value on file)
HeadroomA$56.5m
Claim this site

A$387 inc GST · 3 months

A claim takes this site off the market for every other member for 3 months and opens its address, lot outline, exact figures and neighbours to you.

This site is A$387 because its best option clears a 40% margin on cost at the likely ask. Other sites are A$182. One claim credit claims any site.

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Every option the rules allow

OptionHomesStoreysGFARealisationCostsResidual land valueHeadroomProfit at likely ask
Apartments, up to 46 storeys (LEP controls)Local Environmental Plan · FSR 7.5:1 · 155 m 1704617,500 m² A$275mA$120mA$65.0mA$56.5m A$100m75% on cost · 38% on revenue
Cost stack
  • Construction 17,500 m² at A$5,500/m²A$95.0m
  • Basement parkingA$6.0m
  • DemolitionA$45k
  • Consultants, DA and certification (9%)A$9.0m
  • Contributions (A$28,000 per new home)A$4.8m
  • Contingency (5%)A$5.5m
  • 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$8.5m instead leaves A$100m pre-tax on a total development cost of A$140m.
Shop-top housing, up to 46 storeysLow and Mid-Rise (within 400 m) · FSR 7.5:1 · 155 m 1604617,500 m² A$250mA$120mA$60.0mA$51.5m A$80.0m59% on cost · 33% on revenue
Cost stack
  • Construction 17,500 m² at A$5,600/m²A$95.0m
  • Basement parkingA$5.5m
  • DemolitionA$45k
  • Consultants, DA and certification (9%)A$9.0m
  • Contributions (A$28,000 per new home)A$4.5m
  • Contingency (5%)A$5.5m
  • 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$8.5m instead leaves A$80.0m pre-tax on a total development cost of A$140m.

Site facts

Site area
About 2,250 m² (70 m by 200 m)
Street frontage
About 60 m (measured against the road corridor)
Zone
MU1 Mixed Use · North Sydney Local Environmental Plan 2013
LEP controls
FSR 7.5:1 · height 155 m · minimum lot not mapped
Nearest nominated centre
About 250 m to Crows Nest station (straight line) · Within 400 m of a nominated centre

Neighbours

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