142 Frenchs Forest Road West & 1-5 Bluegum Crescent, Frenchs Forest NSW 2086

Seldom will you find an opportunity like this: an R3 zoned, residential site poised and ready for a fresh investor to get in and take advantage of the recent changes in Low & Mid Rise Housing (LMR) policy.

This site already carries an approved DA for 44 apartments under the Warringah LEP, so there’s no contention around whether or not it can be developed, there’s only a need for new investment to take advantage of the recent uplift in FSR and height:

• The rear 2 lots (3&5 Bluegum) have had a massive 110% increase in FSR and almost a doubling of height since the current DA was lodged
   
• The 2 front lots have had a 10% increase in FSR and a 5m increase in height

All up, the site has received an overall 31.6% increase in FSR under LMR and because the Low & Mid Rise Policy works in tandem with Affordable Housing, an extra 30% increase in FSR and Height, can be gained for a 15% Affordable Housing component.

There is even room for expansion, should it be necessary, with a further 2,812 m2 of R3 zoned land adjoining the rear boundary. This could potentially lift the overall GFA to 12,562 m2.

POTENTIAL DEVELOPMENT OUTCOMES UNDER LMR/AFH

Develop under Low & Mid-Rise Housing to arrive at a base GFA of 6,376 m2 with 22m height.

Add the extra 30%[1] granted under Affordable Housing resulting in:

• GFA of 8,288 m2 (2.86:1 FSR)
• 87% efficiency achievable resulting in NFA of 7,211
• 82 apartments at 72 m2 internal plus balconies (priced at $1.4M ea - $19,415/ m2)
• 15 Affordable Housing apartments at 72 m2. Rented @ $550/week
• 3 Council Affordable Housing apartments at 72 m2 as council contribution (to be gazetted in 2026)
• GR of $115M achievable on sales
• Profit of $21.7M on sales achievable
• Nett Rental income of $5.15M over 15-year period ($550/week/apartment)
• Sell Affordable Housing units after 15 years to achieve further projected profit at future market value of around $30M (likely $30k/ m2)

[1] https://www.millsoakley.com.au/insights/infill-affordable-housing-incentive-now-available-in-low-and-mid-rise-housing-areas/

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