Address locked, Crows Nest

3 houses today → about 150 homes as apartments, up to 40 storeys. About 1,200 m², 40 m frontage, zone MU1.

Residual land valueA$60.0m

Likely ask (3 houses)A$16.0mLand values where the houses have one, the suburb median formula for the rest

HeadroomA$44.0m

Gain over buying separatelyA$16.0m

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 40 storeys (LEP controls)Local Environmental Plan · FSR 12:1 · 135 m	150	40	15,000 m²	A$230m	A$100m	A$60.0m	A$44.0m	A$80.0m62% on cost · 34% on revenue
Cost stack Construction 15,000 m² at A$5,500/m²A$80.0m Basement parkingA$5.0m DemolitionA$140k Consultants, DA and certification (9%)A$7.5m Contributions (A$28,000 per new home)A$4.0m Contingency (5%)A$4.8m 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$80.0m pre-tax on a total development cost of A$130m.
Shop-top housing, up to 40 storeysLow and Mid-Rise (within 400 m) · FSR 12:1 · 135 m	140	40	15,000 m²	A$230m	A$100m	A$55.0m	A$39.0m	A$80.0m62% on cost · 34% on revenue
Cost stack Construction 15,000 m² at A$5,600/m²A$80.0m Basement parkingA$4.8m DemolitionA$140k Consultants, DA and certification (9%)A$8.0m Contributions (A$28,000 per new home)A$4.0m Contingency (5%)A$4.8m 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$80.0m pre-tax on a total development cost of A$130m.

Houses: House, 300 m² House, 250 m² House, 700 m²
Site area: About 1,200 m²
Street frontage: About 40 m (measured against the road corridor)
Zone: MU1
Nearest nominated centre: About 350 m (straight line) · Within 400 m of a nominated centre
Land value: About A$9,500,000 at 1 July 2025, NSW Valuer General (the houses together)
Notes: DA on a house (Determined).