Address locked, Double Bay

3 houses today → about 65 homes as apartments, up to 8 storeys + bonus. About 2,250 m², 45 m frontage, zone R3.

Residual land valueA$40.0m

Likely ask (3 houses)A$19.0mFrom the land values x 1.15

HeadroomA$21.0m

Gain over buying separatelyA$15.0m

Claimed

Claimed until 3 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
Apartments, up to 8 storeys + affordable housing bonusLow and Mid-Rise + Chapter 2 bonus (15% affordable) · FSR 2.86:1 · 28.6 m	65	8	6,000 m²	A$120m	A$42.5m	A$40.0m	A$21.0m	A$40.0m59% on cost · 33% on revenue
Cost stack Construction 6,000 m² at A$5,500/m²A$35.0m Basement parkingA$2.1m DemolitionA$140k Consultants, DA and certification (9%)A$3.3m Contributions (A$28,000 per new home)A$1.7m Contingency (5%)A$2.0m 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$19.0m instead leaves A$40.0m pre-tax on a total development cost of A$65.0m. Includes 15% affordable housing at 65% of market.
Apartments, up to 6 storeysLow and Mid-Rise (within 400 m) · FSR 2.2:1 · 22 m	50	6	4,500 m²	A$100m	A$32.5m	A$35.0m	A$16.0m	A$32.5m59% on cost · 33% on revenue
Cost stack Construction 4,500 m² at A$5,500/m²A$25.0m Basement parkingA$1.6m DemolitionA$140k Consultants, DA and certification (9%)A$2.5m Contributions (A$28,000 per new home)A$1.3m Contingency (5%)A$1.5m 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$19.0m instead leaves A$32.5m pre-tax on a total development cost of A$55.0m.
TownhousesLow and Mid-Rise · FSR 0.9:1 · 10.5 m	10	2	2,000 m²	A$45.0m	A$9.5m	A$21.0m	A$2.0m	A$9.5m30% on cost · 21% on revenue
Cost stack Construction 2,000 m² at A$4,100/m²A$8.0m DemolitionA$140k Consultants, DA and certification (9%)A$700k Contributions (A$28,000 per new home)A$250k Contingency (5%)A$425k 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$19.0m instead leaves A$9.5m pre-tax on a total development cost of A$32.5m.
TerracesLow and Mid-Rise · FSR 0.9:1 · 10.5 m	7	2	1,100 m²	A$27.5m	A$6.0m	A$14.0m	-A$5.0m	-A$2.1m-7% on cost · -8% on revenue
Cost stack Construction 1,100 m² at A$4,300/m²A$4.8m Basement parkingA$240k DemolitionA$140k Consultants, DA and certification (9%)A$450k Contributions (A$28,000 per new home)A$110k Contingency (5%)A$275k 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$19.0m instead leaves -A$2.1m pre-tax on a total development cost of A$27.5m.

Site facts

Houses: House, 1,000 m² House, 700 m² House, 450 m²
Site area: About 2,250 m²
Street frontage: About 45 m (measured against the road corridor)
Zone: R3
Nearest nominated centre: About 50 m (straight line) · Within 400 m of a nominated centre
Land value: About A$17,000,000 at 1 July 2025, NSW Valuer General (the houses together)