6 & 8 Glen Avenue
Randwick, NSW 2031

Overview

Prime Development Opportunity

This exceptional dual lot property in Randwick offers a prime development opportunity under the new Low & Mid-Rise (LMR) housing policy. Located in one of the most sought-after coastal pockets of Randwick, the site comprises two adjoining parcels with a combined frontage exceeding 24 meters on a quiet, established street.

The property benefits from favourable R3 Medium Density Residential zoning, allowing for LMR-type housing outcomes subject to council approval. This zoning, combined with strong demand for quality housing in the area, makes this site a rare and valuable offering for developers and investors alike.

Currently, the site includes two existing dwellings generating strong holding income, providing flexibility while development plans are considered. The combined land area is approximately 995 square meters, offering substantial space for future projects.

Development Highlights:

• R3 Medium Density Residential zoning with potential for LMR development, subject to council approval.
• Combined site area of approximately 995 square meters across two adjoining lots.
• Floor Space Ratio (FSR) potential of approximately 1.5, allowing for four-storey buildings within a 17.5-meter height limit, with a potential Gross Floor Area (GFA) of 1,492 square meters, subject to council approval.
• Opportunity for townhouse or boutique apartment development, subject to council approval.
• Strong holding income from two existing dwellings.
• Existing homes include a three-bedroom residence and a substantial six-bedroom home featuring a pool and parking facilities.
• Situated on a quiet, established street close to key lifestyle and infrastructure hubs.
• Convenient proximity to beaches, the University of New South Wales (UNSW), hospitals, shopping centres, and approximately six kilometers from the Sydney Central Business District (CBD).

The property benefits from the NSW Government's LMR housing policy uplift, which enhances height and FSR potential, enabling significant project scale in a suburb where such development opportunities are exceptionally scarce.

Planning & Development Highlights:

• Substantial consolidated landholding providing a strong foundation for development.
• R3 Medium Density Residential zoning.
• Direct benefit from the NSW Low & Mid-Rise Housing policy uplift.
• Located within 800 meters of a designated Town Centre.
• FSR of 1.5:1 with potential bonus provisions.
• Height limit of 17.5 meters with potential bonus provisions.

This property represents a unique chance to secure a significant development site in a prestigious Eastern Suburbs location, combining existing income with future growth potential. Its strategic location and zoning advantages make it an ideal prospect for medium density residential projects, including townhouses or boutique apartments, subject to council approval.

Location