The sale, facilitated jointly by Zorick Toltsan of RWC Eastern Suburbs and Graham Berman of Ray White Double Bay, reflects the growing appetite among developers spurred by the NSW Government’s Low and Mid-Rise Housing Reforms.
Situated within an 800m radius of the Rose Bay Town Centre, the combined landholding spans approximately 1,100sqm and is zoned R3, with a permissible gross floor area (GFA) of 1,650sqm.
The site has potential for development up to four to six storeys, aligning perfectly with the government’s push for increased housing density in well-located suburbs.
“This sale showcases how strategic amalgamations can unlock enormous value in Sydney’s evolving planning landscape,” said Zorick Toltsan of RWC Eastern Suburbs. “The vendors were owner-occupiers who capitalised on the reforms, achieving far more than if they had sold their homes separately.”
The buyer, a local developer, is expected to take advantage of the site’s zoning and location to deliver a new medium-density residential project that aligns with the state’s updated planning guidelines.
“There’s been a surge in developer interest following the announcement of the Low and Mid-Rise reforms,” added Graham Berman of Ray White Double Bay. “Sites like this, close to town centres and transport, are becoming increasingly valuable as the market responds to these new planning incentives.”
The deal remained strictly off-market, reflecting a growing trend in high-value residential amalgamations, where privacy and discretion are key for both sellers and buyers.
With media attention intensifying around the transformative impact of the housing reforms, this sale is another clear example of how everyday homeowners can benefit significantly from planning changes. Local residents are seizing the opportunity to pool resources and achieve remarkable outcomes.
“This is a textbook example of how neighbours working together can reap the rewards of policy reform,” said Mr Toltsan. “We’re seeing a lot more collaboration among property owners who now realise their land could be far more valuable in combination than on its own.”
