NEW DEVELOPMENTS, DEALS
Potts Point’s Biggest Development Opportunity in over 10 Years Now For Sale
Posted by Development Ready on Sep 16, 2019

JLL Sydney are very pleased to come to the market with an incredibly rare development property, the likes of which occur but once in a generation.   

87-93 Macleay St & 10-12 Hughes Street in Potts Point, represents the biggest development opportunity the neighbourhood has seen in over a decade. This marks the first time an offering this substantial has been made available for purchase since the Pomeroy in 2005; it is also likely to be the last significant land offering on the very exclusive Macleay Street.

Selling agents Michael Khouri and Ben Hunter are anticipating a significant amount of interest in this property, and will be receiving expressions of interest until 2pm Thursday 10 October 2019. You are strongly advised to act promptly and enquire today.

“It’s an exciting time, this is truly an impressive site.” Mr Khouri noted.

“The fundamentals are in place for an experienced developer to create their legacy with a landmark luxury project in one of Sydney’s most highly prized precincts. The huge block encompasses 2,170sqm; the scope for what is possible is large; we’re excited to see the level of creativity brought to the stage.”

Favourable planning controls in the area present developers with scope for multiple outcomes. The large site retains a total permissible GFA of 7,153sqm (approx) and offers 50 metres of frontage directly onto the renowned Macleay Street. The new owners will also be able to explore the potential for underground parking with access via Hughes Street (STCA).

“The location of this prized property is almost second-to-none. Literally minutes from the heart of the city; while also within walking distance is Kings Cross Station, Rushcutters Bay Park and Sydney's best cafes & restaurants such as Fratelli Paradiso and The Apollo.” Mr Hunter attested.

“Future residents of a luxury project will be drawn in and ready to pay a premium price. Top it off with stunning uninterrupted views to Sydney Harbour Bridge, Opera House and city skyline, and you’ve got an almost complete recipe for success – the only thing missing, is the right developer.”
 

Summary:

  • Impressive 2,170sqm site area
  • Total permissible GFA of 7,153sqm (approx)
  • 50m frontage onto Macleay Street with potential underground parking access via Hughes Street (STCA)
  • Favourable planning controls offer developers multiple opportunities
  • Stunning uninterrupted views to Sydney Harbour Bridge, Opera House and city skyline
  • Walking distance to Sydney CBD, Kings Cross Station, Rushcutters Bay Park and Sydney's best cafes & restaurants such as Fratelli Paradiso and The Apollo

*Please note that all financials, measurements and distances quoted are approximate only.

87-93 Macleay St & 10-12 Hughes Street, Potts Point, NSW, 2011, is offered for sale via Expressions of Interest. Enquire today for more information and submit proposals before the closing date of 2pm Thursday 10 October 2019.

For more information on this opportunity, please contact the JLL Sydney team and mention Development Ready.

JLL
Michael Khouri: +61 420 989 353
Ben Hunter: +61 499 486 999
 

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