Property ID : 453245
For Sale $6,100,000 - Development
Bayside Apartments in Drummoyne
A RARE OPPORTUNITY TO BUY A - DA – APPROVED DEVELOPMENT SITE IN DRUMMOYNE
(see DA approved plans below)
Drummoyne is renowned for its tightly-held houses with both new and old apartments in very high demand. The Bayside Apartments captures the essence of understated luxury with a boutique collection of 11 private residences in a very sought after area. The development offers a peaceful and private setting with total proximity and convenience to all amenities and easy access to Sydney CBD. This is an ideal DA approved investment opportunity in the heart of Drummoyne.
A great DA approved opportunity exists to develop a boutique apartment building in the centre of Drummoyne shopping precinct. At BPRE Real Estate we are confident that we can achieve pre-sales on all of the apartments prior to the development construction starting. Selling Brand New Boutique Building apartments are in high demand in Drummoyne.
Alterations and additions to existing commercial building and conversion to a residential apartment building. The proposal provides a good mix of residential accommodation from 1 bedroom apartments to 3 bedrooms and the site is located within easy access to public transport, shops, parks, restaurants, post office and foreshore recreation areas. The proposal includes alterations and additions to an existing building currently being used for commercial purposes and a change of use to residential units. The proposal also includes for the addition of a new upper floor level for two luxurious proposed Pent Houses with surrounding landscaped gardens.
The DA approved development will provide 11 units varying from 1 to 3 bedroom apartments. This is considered a reasonable number of units given the variety of accommodation provided within an area that is also well serviced by public transport and general amenity.
The site is located on the western side of Wrights Road, Drummoyne. The site is zoned R3 Medium Density Residential under the Canada Bay Local Environmental Plan 2013. The site is legally identified as Lot 10 of Section 1 in DP 964. The street address is known as No. 9 Wrights Road, Drummoyne. The site is rectangular and measures 15.24m x 45.62m and has an area of 695m2. Existing on the R3 Medium Density Residential site is a 3 storey building currently being used for commercial purposes, offices. The rendered brick building is three storeys on the Victoria Road side and two storeys on the Wrights Road side. The building occupies almost all of the site area and there is no existing significant vegetation. The site is surrounded by a variety of residential development including single dwellings and residential flat buildings. Directly adjoining to the south-east is No. 7A Wrights Road being the Community of Christ Church building. The church building, equivalent of four storeys in height, is constructed out of yellow ochre brick. Further up Victoria Road towards Lyons Road is one end of the Drummoyne commercial shopping strip which lines both sides of Victoria Road and includes commercial and mixed use development. This commercial building site is NOT identified as a heritage item.
PROPOSED DEVELOPMENT IN DETAIL
Canada Bay Council has approved DA consent for alterations and additions to existing building and conversion to a residential apartment building as per matrix below.
|Second Floor (Top Floor – pent house level)||2 x 3 bedroom pent house units|
|First Floor||2 x 1 bedroom units|
|4 x 2 bedroom units|
|Ground Floor||Entry foyer|
|1 x 1 bedroom (with an attached home business space)|
|2 x 2 bedroom units|
|Lower Ground Floor||22 parking spaces|
|12 bicycle spaces|
|Storage for all apartments|
In total, the proposal comprises of 11 luxury apartments, 3 one-bedroom units (one with an attached home business space of 50sqm), 6 two-bedroom units and 2 three-bedroom pent house apartments.
Drummoyne is surrounded by the famous Sydney Harbour and Parramatta River, Drummoyne boasts some of Sydney’s best waterfront properties. Spectacular views, easy access and excellent outlet shopping, all set amongst blue-chip real estate, Drummoyne is increasingly popular, and it’s obvious why!
Drummoyne is home to people at many stages of life. Here, you’re most likely to find younger singles and couples as well as more established families with older kids. More than 70% of working people in Drummoyne spend their weekdays in offices, as professionals, managers or administrative staff. Victoria Road (one of Sydney’s busiest roads) cuts through the heart of Drummoyne providing excellent access to both the city and neighbouring suburbs. While Drummoyne enjoys its own ferry wharf, numerous bus routes run the Victoria Street gauntlet making the suburb well-serviced by public transport.
Both Lyons Road and Victoria Road have numerous shopping options including restaurants and speciality stores. Birkenhead Point Shopping Centre and Outlet Centre is located on the water near the Iron Cove Bridge. This shopping centre contains both outlet stores for numerous major retailers as well as a Coles supermarket, fishmonger, fresh produce retailers and a number of cafes. A number of churches, both public and private primary school options and facilities such as Drummoyne Olympic Pool and several parks round off Drummoyne’s facilities. Outlet shopping, easy access and plenty of day-to-day conveniences typify this waterfront suburb just 6km north-west of the Sydney CBD. If it’s blue-chip property you’re looking for, some of the most desirable real estate in Sydney is in Drummoyne’s east. Enjoying glittering water views, great access to the city via car or bus and plenty of public facilities as well as great cafes, restaurants and shopping. It’s easy to understand Drummoyne’s enduring popularity.
BAYSIDE APARTMENTS IN DRUMMOYNE
- Boutique building of only 11 residences
- Penthouses have 3 spacious bedrooms, all with built-in robes and ensuite to the master bedroom.
- The 2 bedroom apartments are of spacious proportions, all with built-in robes and ensuite to the master bedroom
- Interiors fixtures feature imported finishes selected for their quality and enduring appeal including marble floors.
- Gourmet entertainer’s kitchen equipped with Miele appliances, marble benchtops and island bench.
- Villeroy & Boch and Grohe appointments feature in the bathrooms while the main bathroom enjoys a full length bath.
- Ducted air conditioning affords year-round comfort.
- Separate walk in laundry and secure lift access direct.
- Security parking and private lock-up storage area of approx. 8m2 for every apartment
- Full brick construction by reputed builder specialising in high-end boutique residential buildings and prestige homes.
- All apartments include balconies with floor-to-ceiling stacking sliding doors, combining indoor and outdoor living
- Designed with a focus on low maintenance apartment living through the careful selection of materials and finishes throughout.
- The perfect balance of relaxed bayside living and urban village convenience.
- Sanctuary-like feel with the convenience of being 10 minutes to Sydney CBD and 300m to the ferry wharf.
- Easy walking distance to Drummoyne Sailing Club and the recently revitalised Birkenhead Point Shopping Centre.
* Please note that all images are intended as a general introduction only to the quality of finishes and fixtures of the apartment for sale
Buying this property for investment?
Below is a snap-shot of the income and expenditure analysis for a property purchase of around $450,000. The investor would actually be in a cash-flow positive position (making around $40.00 per week) after Negative Gearing benefits are taken into consideration. The benefits will change based on your income, interest rates, loan term, depreciation, general property expenses and other market conditions. Customise your calculation by using our Negative Gearing Tax Simulator – input your actual income and proposed purchase price. Please read the Disclaimer and Explanatory notes before use.
Negative Gearing Tax Simulator
- Configuration: 1 Bedroom, 2 Bedroom and 3 Bedrooms available
- Estimated Rentals: $700 to $1500 Per Week can be achieved
- Development Status: Canada Bay DA approved
- Price Range: From $780,000 to $1,900,000
- Car Parking: All apartment have 1security car parking with the 3 bedrooms having 2 car spaces
- 6 Star Energy Rating
- Air Conditioning
- Alarm System
- Built-in Wardrobes
- Cable or Satellite
- Carpet in Bedrooms
- Designer Kitchen
- Dish Washer
- Double Glazed Windows
- Garage Remote Acess
- Gas Access
- High Speed Internet
- Intercom Entry
- Internal Laundry
- LED Downlights
- Security Parking
- Stainless Steel Appliances
- Stainless Steel Oven
- Swipe Security Access
- Video Intercom