North Shore Freehold Block of Apartments w/ Development Potential
JLL as exclusive selling agents, present 20 Byrnes Avenue, Neutral Bay, a 579 sqm* dual-purpose asset offering exceptional flexibility as either a value-add refurbishment investment or an LMR development opportunity.
SALE HIGHLIGHTS:
DUAL OPPORTUNITY ASSET WITH MULTIPLE VALUE PATHWAYS Versatile 579 sqm* site: execute value-add refurbishment of existing 6-unit building, or pursue LMR development (up to 1,655 sqm^ GFA & 8-storeys^).
IMMEDIATE INCOME WITH REFURBISHMENT UPSIDE Gross annual income of $156,780* from 6x 2-bedroom units. Fantastic value-add potential through cosmetic upgrades to unlock enhanced rental yields.
DEVELOPMENT POTENTIAL – Zoned R3 Medium Density Residential, The site falls within the low to mid-rise housing policy (LMR) benefiting from 2.2:1 FSR and 6 storey height limit, furthermore applying affordable housing bonus could provide 2.86:1 FSR & 8 storey height limit unlocking excellent views of Middle Harbour and Sydney CBD from North & South aspect.
ULTIMATE INCOME-GENERATING LANDBANK Lease all 6 units for immediate cash flow while holding substantial LMR development upside for future realisation.
ACCESSIBLE LOWER NORTH SHORE LOCATION Just 4km* from Sydney CBD and 2km* from North Sydney, with 15-20 minute peak-hour travel and a wealth of local amenity nearby.
WALKABLE VILLAGE LIFESTYLE Big Bear Shopping Centre 2 minutes' walk away, with abundant restaurant and café options along Military Road and vibrant bars on Grosvenor Street.
STRONG END-USER DEMAND Neutral Bay continues to attract consistent owner-occupier and investor demand, supported by CBD connectivity, infrastructure, and access to world-class education and employment hubs.
*Approximate
For sale by Expressions of Interest, closing Tuesday 26th of May 2026 at 4pm (AEST). All parties interested in registering to bid or seeking further information are encouraged to contact the exclusive selling agents.
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