Residents band together to sell homes as mid-rise housing changes kick in
They are the first known group of Sutherland Shire residents to test the market since the Low and Mid Rise Housing Policy came into effect on February 28.
With the potential for about 80 apartments to be built on the 150 metre long, 3686 square metre site, the price guide is about $20 million.
The properties, 44-52 Denman Avenue and 49a and 49b Woolooware Road, back on to the train line and are just a few minutes' walk to Woolooware station.
Under the state government's new housing policy, six storey apartment blocks are permissible within 400 metres of a nominated station or centre, and four-storey blocks are allowed within 800 metres.
Woolooware is one of 10 nominated stations or centres in the shire.
Marko Maric, of Pulse Property Agents, which has listed the potential development site, said the group of residents had "come together as neighbours to see if they can sell to a large-scale developer and achieve a premium price for their land".
"I know some of the owners and, when I phoned one to update them on the changes, I found they had already been talking to each other about their options.
"They were ahead of the curve, which is quite unusual in that space.
"Usually when you have quite a few different owners you get different opinions and it's hard to get them to agree."
Mr Maric said, leading up to the housing changes, the residents had received door knocks from developers.
"That got them thinking whether they should work together, rather than just sell to anyone who knocked on the door," he said.
The owners of seven adjoining homes in southern Sydney have banded together to sell their properties, which are in an area where six-storey apartments are now allowed.
They are the first known group of Sutherland Shire residents to test the market since the Low and Mid Rise Housing Policy came into effect on February 28.
With the potential for about 80 apartments to be built on the 150 metre long, 3686 square metre site, the price guide is about $20 million.
The properties, 44-52 Denman Avenue and 49a and 49b Woolooware Road, back on to the train line and are just a few minutes' walk to Woolooware station.
Under the state government's new housing policy, six storey apartment blocks are permissible within 400 metres of a nominated station or centre, and four-storey blocks are allowed within 800 metres.
Woolooware is one of 10 nominated stations or centres in the shire.
Marko Maric, of Pulse Property Agents, which has listed the potential development site, said the group of residents had "come together as neighbours to see if they can sell to a large-scale developer and achieve a premium price for their land".
"I know some of the owners and, when I phoned one to update them on the changes, I found they had already been talking to each other about their options.
"They were ahead of the curve, which is quite unusual in that space.
"Usually when you have quite a few different owners you get different opinions and it's hard to get them to agree."
Mr Maric said, leading up to the housing changes, the residents had received door knocks from developers.
"That got them thinking whether they should work together, rather than just sell to anyone who knocked on the door," he said.
The owners of seven adjoining homes in southern Sydney have banded together to sell their properties, which are in an area where six-storey apartments are now allowed.
They are the first known group of Sutherland Shire residents to test the market since the Low and Mid Rise Housing Policy came into effect on February 28.
With the potential for about 80 apartments to be built on the 150 metre long, 3686 square metre site, the price guide is about $20 million.
The properties, 44-52 Denman Avenue and 49a and 49b Woolooware Road, back on to the train line and are just a few minutes' walk to Woolooware station.
Under the state government's new housing policy, six storey apartment blocks are permissible within 400 metres of a nominated station or centre, and four-storey blocks are allowed within 800 metres.
Woolooware is one of 10 nominated stations or centres in the shire.
Marko Maric, of Pulse Property Agents, which has listed the potential development site, said the group of residents had "come together as neighbours to see if they can sell to a large-scale developer and achieve a premium price for their land".
"I know some of the owners and, when I phoned one to update them on the changes, I found they had already been talking to each other about their options.
"They were ahead of the curve, which is quite unusual in that space.
"Usually when you have quite a few different owners you get different opinions and it's hard to get them to agree."
Mr Maric said, leading up to the housing changes, the residents had received door knocks from developers.
"That got them thinking whether they should work together, rather than just sell to anyone who knocked on the door," he said.
The owners of seven adjoining homes in southern Sydney have banded together to sell their properties, which are in an area where six-storey apartments are now allowed.
They are the first known group of Sutherland Shire residents to test the market since the Low and Mid Rise Housing Policy came into effect on February 28.
With the potential for about 80 apartments to be built on the 150 metre long, 3686 square metre site, the price guide is about $20 million.
The properties, 44-52 Denman Avenue and 49a and 49b Woolooware Road, back on to the train line and are just a few minutes' walk to Woolooware station.
Under the state government's new housing policy, six storey apartment blocks are permissible within 400 metres of a nominated station or centre, and four-storey blocks are allowed within 800 metres.
Woolooware is one of 10 nominated stations or centres in the shire.
Marko Maric, of Pulse Property Agents, which has listed the potential development site, said the group of residents had "come together as neighbours to see if they can sell to a large-scale developer and achieve a premium price for their land".
"I know some of the owners and, when I phoned one to update them on the changes, I found they had already been talking to each other about their options.
"They were ahead of the curve, which is quite unusual in that space.
"Usually when you have quite a few different owners you get different opinions and it's hard to get them to agree."
Mr Maric said, leading up to the housing changes, the residents had received door knocks from developers.
"That got them thinking whether they should work together, rather than just sell to anyone who knocked on the door," he said.
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