Nick Papadoniou Initial Scope

Currently approved DA on 93-95 Henry Perry Drive for 34 units. Water views. Highly sought after spot (DA Attached). Neighbouring property with lapsed DA behind it (94-96 John Whiteway Drive) is also interested in selling. Acquiring both sites would open 3x street access and a larger unit yield on the site with prime location. Current party I am working with has listed 93-95 Henry Perry for $6mil. IMO and early enquiries, I believe there is opportunity to create a decent uplift and yield on the site.

Location

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Nick Papa 23rd July: Knockdown price

Land behind

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DA Approved Site Feasibility: Just 93-95 Henry Drive

Apartment Schedule

Type Internal Area? Estim. Price
Lower Ground 2 bed 2 bath 1c? 78 sqm $760,000
Lower Ground 2 bed 2 bath 1c? 85 sqm $770,000
Ground Adaptable? $770,000
Ground 2 bed 2 bath 1c? 78 sqm $760,000
Ground 2 bed 2 bath 1c? 78 sqm $760,000
Ground 2 bed 2 bath 1c? 78 sqm $760,000
Ground 2 bed 2 bath 1c? 85 sqm $770,000
Level 1 1 bed 1 bath 1c 55 sqm $610,000
Level 1 1 bed 1 bath 1c $610,000
Level 1 1 bed 1 bath 1c $610,000
Level 1 Adaptable? $770,000
Level 1 2 bed 2 bath 1c? 78 sqm $760,000
Level 1 2 bed 2 bath 1c? 78 sqm $760,000
Level 1 2 bed 2 bath 1c? 85 sqm $770,000
Level 2 1 bed 1 bath 1c $610,000
Level 2 1 bed 1 bath 1c $610,000
Level 2 1 bed 1 bath 1c $610,000
Level 2 Adaptable? $770,000
Level 2 2 bed 2 bath 1c? 78 sqm $770,000
Level 2 2 bed 2 bath 1c? 78 sqm $770,000
Level 2 2 bed 2 bath 1c? 85 sqm $770,000
Level 3 1 bed 1 bath 1c $610,000
Level 3 Adaptable? $770,000
Level 3 2 bed 2 bath 1c? 78 sqm $770,000
Level 3 2 bed 2 bath 1c? 78 sqm $770,000
Level 3 2 bed 2 bath 1c? 78 sqm $770,000
Level 3 3 bedroom $950,000
Level 4 1 bed 1 bath 1c $640,000
Level 4 1 bed 1 bath 1c $640,000
Level 4 2 bed 2 bath 1c? 78 sqm $800,000
Level 4 2 bed 2 bath 1c? 78 sqm $800,000
Level 4 2 bed 2 bath 1c? 78 sqm $800,000
Level 5 2 bed 2 bath 1c? 85 sqm $900,000
Level 5 3 bedroom $1,600,000

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Comparables

2 bedroom — 1207/25 Mann St Gosford. $780,000

Details