25 Macpherson St

Waverley NSW 2024

0 m²

893 m²

Block of units

Currently for sale - view listing

Overview

One of the Eastern Beaches' Rarest Offerings - Entire Bronte-Border Block. The chance to manufacture scarce, brand-new beachside apartments or hold.

OPEN SATURDAYS AND THURSDAYS 11.15AM Opportunities like this are measured in decades, not years. An entire full-brick block of 15 oversized 1-bedroom apartments, each with a sunroom (approx 51m² each), in the blue-ribbon pocket where Waverley meets the Bronte border. A location that can't be replicated. Building approx 1046m2 and Land Approx 893m2. Zoned R3. The eastern beaches are geographically finite and famously tightly held. Whole blocks this close to the sand are rarely offered and seldom recur - when they do. This can be the stock the area simply can't supply. Everyone wants to live in this location and it will continue to be the most sought after pocket of Australia. This area is essentially built out. Brand-new, individually-titled apartments drip onto the market here - and yet local demand for them is relentless, particularly from downsizers who want to stay in the neighbourhood they love but can't find modern, high end, low-maintenance stock to buy. That gap is the opportunity. Strata, reposition & sell down. With generously proportioned apartments to work with, there is genuine scope (STCA) to reconfigure and elevate each residence into a luxury 1-bedroom-plus-study or 2-bedroom apartment, introduce private decks for relaxed indoor-outdoor coastal living, and strata-title each for individual sale. Add a lift. The result: scarce, brand-new beachside apartments released into a premium owner-occupier market that has almost nowhere else to go. Individually titled luxury apartments offered to this market are often keenly sought after, with real potential to add value through a considered reposition and staged sell-down (subject to market conditions, costs and approvals). Further options: Hold the block intact for stable, low-vacancy beachside income, there is scope for substantial rental increases. Renovate and elevate the rents to the top tier. This area can sustain high rent prices and with rental stock diminishing rents will likely continue to climb. Irreplaceable position, scarce by every measure, and multiple paths to value. Blocks like this define a beachside portfolio for a generation. Disclaimer: All information has been gathered from sources we believe to be reliable; however, we cannot guarantee its accuracy and interested persons should rely on their own enquiries. All measurements and areas are approximate. Any reference to reconfiguration, decks, strata subdivision or development is subject to council and relevant authority approval (STCA) and is not a representation that any approval will be granted. Nothing in this advertisement constitutes financial, taxation or legal advice. FOR SALE BY EXPRESSIONS OF INTEREST CLOSING WEDNESDAY 1 JULY 3PM. IN CONJUNCTION WITH CHRISTIES INTERNATIONAL AND HIGHLAND DOUBLE BAY. CHARLOTTE PETERSWALD 0407742120 CHRISTIES INTERNATIONAL ANTHONY AND TONI RIZZO HIGHLAND DOUBLE BAY 0418 236 999