14 Sunderland Street
Mayfield, NSW 2304

Overview

Exceptional Development Opportunity - DA Approved Co-living Housing

Positioned in one of Newcastle's fastest-growing suburbs, this exceptional Mayfield site offers a rare development opportunity with DA approval for co-living housing, designed for immediate action and promising strong future returns. The property is zoned R3 for medium density residential use and is situated on approximately 1,033 square meters of land, featuring convenient rear lane access. The site currently includes a vacant, uninhabitable building alongside an oversized double garage.

Development consent has been secured for a 26-room co-living building, providing a significant advantage for developers and investors by eliminating lengthy approval processes and enabling direct progression to construction. The approved development plan leverages favorable planning provisions under the NSW Housing SEPP, which supports well-located, higher-density accommodation near transport and amenities. This policy often allows flexible design standards and reduced parking requirements, making Mayfield an ideal location just minutes from the Newcastle CBD, university, and major transport corridors.

The planning policy permits up to four storeys, potentially allowing for up to 45 co-living units, subject to council approval. This strategically located parcel lies within a thriving urban renewal area, offering a blend of accessibility, lifestyle amenities, and solid investment fundamentals. The increasing demand for affordable and co-living accommodation positions this project to deliver strong rental yields and long-term growth potential.

This opportunity is suitable for experienced developers or investors interested in entering the co-living sector or exploring alternative projects for this block. The property is conveniently located a 10-minute drive from Newcastle CBD, within walking distance to Waratah train station and Mayfield shopping villages, and close to reputable schools, Newcastle University, Newcastle TAFE, and major hospitals.

Additional benefits of investing in co-living accommodation include:

• Appeal to students, short-term workers, and those seeking affordable housing options.
• Multiple tenants, offering the potential for higher rental income compared to standard leases.
• Estimated individual rental returns for co-living studios range from $360 to $430 per week, depending on car space availability.
• Potential annual rental returns up to approximately $537,680, based on current market estimates with full occupancy.

Prospective buyers are encouraged to arrange inspections and request the information memorandum to explore this exceptional development opportunity further. Tenders close at 2pm on Thursday, 21st May 2026.

Disclaimer: The information provided has been obtained from sources considered reliable; however, accuracy cannot be guaranteed. Buyers should conduct their own due diligence.

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