Known as Forresters Rise, the property comprises a substantial 6.17-hectare* landholding across three titles at Forresters Beach, approximately 600 metres from the coastline and within easy reach of Terrigal and Wamberal.
The property has development approval for a staged Torrens title subdivision comprising 31 residential lots, while indicative housing concepts have tested the potential for up to 38 dwellings across the site, subject to approval.
For sale through Jake Smith and Henry Robertson of Cushman & Wakefield, much of the groundwork has already been advanced. Stage 1 SWC Issued, with Stage 2 SWC anticipated to be issued in October 26.
Cushman & Wakefield’s Jake Smith said the advanced planning position was expected to attract residential developers looking to secure projects capable of moving towards delivery without the lengthy planning lead times associated with many greenfield sites.
“We expect interest from established residential and land subdivision developers, particularly groups looking to secure a project where a significant amount of the planning and technical work has already been undertaken.
“Development capital remains selective, but sites with planning certainty in established, supply-constrained markets are attracting attention because developers can more clearly assess their timeframe, costs and end market.
“Forresters Rise provides that combination of an advanced approval position and a coastal location where opportunities to deliver new residential product at this scale are limited.”
The site fronts The Entrance Road and is surrounded by established residential development, with access to major retail, schools, healthcare and transport infrastructure.
Its location also puts future residents within close proximity of Forresters Beach and the neighbouring coastal communities of Terrigal and Wamberal.
Cushman & Wakefield’s Henry Robertson said the underlying appeal of the site was its ability to combine a substantial development opportunity with an established lifestyle market.
“Finding more than six hectares of development land this close to the coast in an established Central Coast community is increasingly difficult.
“Forresters Beach has a strong owner-occupier profile and the site is surrounded by existing residential amenity rather than relying on a future community being created around it.
“The approval for 31 Torrens title lots provides a clear development proposition, while the indicative concepts for up to 38 dwellings give buyers another avenue to consider how they might ultimately maximise the site, subject to approval.”
Forresters Rise, Forresters Beach is being offered for sale exclusively through Cushman & Wakefield via Expressions of Interest closing Tuesday, September 29 at 3pm (AEST).
