Address locked, Randwick

3 houses today → about 130 homes as apartments, up to 7 storeys. About 3,500 m², 250 m frontage, zone E1.

Residual land valueA$37.5m

Likely ask (3 houses)A$16.0mFrom the land values x 1.15

HeadroomA$21.5m

Gain over buying separatelyA$2.2m

Claimed

Claimed until 3 Feb 2027

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Option	Homes	Storeys	GFA	Realisation	Costs	Residual land value	Headroom	Profit at likely ask
Apartments, up to 7 storeys (LEP controls)Local Environmental Plan · FSR 3.6:1 · 24 m	130	7	12,000 m²	A$180m	A$85.0m	A$37.5m	A$21.5m	A$50.0m46% on cost · 28% on revenue
Cost stack Construction 12,000 m² at A$5,500/m²A$65.0m Basement parkingA$4.3m DemolitionA$140k Consultants, DA and certification (9%)A$6.5m Contributions (A$28,000 per new home)A$3.5m Contingency (5%)A$4.0m 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$16.0m instead leaves A$50.0m pre-tax on a total development cost of A$110m.

Houses: House, 1,500 m² House, 1,500 m² House, 400 m²
Site area: About 3,500 m²
Street frontage: About 250 m (measured against the road corridor)
Zone: E1
Nearest nominated centre: About 900 m (straight line) · Beyond 800 m of a nominated centre
Land value: About A$14,000,000 at 1 July 2025, NSW Valuer General (the houses together)