Wollongong, NSW
Coastal infill site with an approved DA, negotiated on a twelve-month delayed settlement.
- Purchase price
- $3.75M
- Valuation uplift
- +$610K
- Gross yield
- 4.4%
- Income
- $3,170 pw
The brief
An experienced developer-investor wanted a permitted site without the two-year approval risk, and needed time to arrange construction finance before committing capital.
Why we bought it
- 01
DA already approved
Approval for eight apartments was in hand, removing the single largest source of timing and cost risk.
- 02
Twelve-month settlement
Deferred settlement gave the client a full year to finalise construction funding and pre-sales without holding costs.
- 03
Coastal scarcity
One of a handful of remaining infill parcels within 400m of the beach in an established suburb.
Asset detail
- Land area
- 1,410 sqm
- Approval
- DA for 8 apartments
- Zoning
- R3
- Settlement terms
- 12 months deferred
- Beach distance
- 400 m
- Independent valuation
- $4.36M
The acquisition
- Step 1Brief set: approved site only, deferred settlement essential.
- Step 2Six DA-approved coastal sites identified; three inspected with the client's builder.
- Step 3Approved plans, conditions and consent expiry independently reviewed.
- Step 4Contracted at $3.75M with a twelve-month delayed settlement and a 5% deposit.
Outcome
Construction finance secured ahead of settlement; the approved site was valued at $4.36M by the settlement date.