618-622 Old South Head Road, Rose Bay NSW 2029

Property Details: • Type: House

• Bedrooms: 10 • Bathrooms: 5

Description: Property in Rose Bay is among the most desirable in Sydney and this is a once-in-a-lifetime opportunity to secure an incredible 1,234sqm approx landholding in a prime village location just 300m up from Bake Bar and Harris Farm Markets. One of the largest residential parcels to be offered in years, this unique site with three residences offered in one line comes with DA approved plans by award-winning MHN Design Union for 11 luxury apartments that was approved prior to the NSW Government's new density reforms. The new Low and Mid-Rise Housing Policy, effective from Feb 2025, allows for increased density in village locations within 800m of town centres meaning that the FSR has increased from 1:1 to 1:1:5 allowing for a GFA of 1,851sqm STCA. With the current DA approval for a three-storey new build, there's plenty of potential to add value here with scope to alter the existing development application or submit a new one based on the revised legislation. Just 6km to the CBD and surrounded by some of Sydney's finest schools and beaches, Rose Bay is famous for its cafe culture, upscale dining and boutique shopping making this a true gold mine. - An extraordinary development opportunity - One of Sydney's most prestigious suburbs - 1,234sqm site - DA approved for 11 luxury apartments, - Potential for a circa 20 apartment development STCA - Approved plans by MHN Design Union - New density reforms in place Feb 2025 - FSR has increased from 1:1 to 1:1:5 - Capitalise on the plans or further extend - 300m to the heart of Rose Bay village - Stroll to cafes, delis and every convenience - 950m to the beach and harbourfront - Walk to sailing clubs and Club Rose Bay - Excellent transport links at the doorstep - Close to Kambala and Kincoppal-Rose Bay