85-87 Lethbridge Street
Penrith, NSW 2750

Overview

85-87 Lethbridge St

This property presents a unique development opportunity following a significant fire that has left the existing two-storey dwelling significantly damaged. The land beneath, however, offers a promising future for various residential projects.

Located at 85-87 Lethbridge Street, Penrith, this offering consists of two adjoining lots, each approximately 588 square meters, combining to a total land size of approximately 1,176 square meters. Each lot features an approximate frontage of 12.19 meters, combining to a total frontage of approximately 24.38 meters.

The site is zoned R4 High Density Residential, with an 18-meter height limit, making it suitable for a range of residential developments subject to consent. The property is offered strictly as is, providing a blank canvas for the next chapter of development.

Potential uses for the site include:

• Residential Flat Building - Apartments: The R4 zoning permits residential flat buildings with consent. The combined land size exceeds the Penrith Local Environmental Plan's minimum lot size of 1,100 square meters for apartments. The frontage also meets the minimum requirement of 24 meters, with a current height limit of 18 meters.
• Duplexes: Duplexes are expressly permitted with consent under the Penrith R4 LEP. This is considered the most straightforward and financially feasible development path, allowing for two pairs of duplexes across the two existing lots. Each lot satisfies the minimum lot size requirement of approximately 588 square meters.
• Terraces or Manor Houses: Permitted pathways exist under the NSW Low & Mid-Rise Housing Policy (Chapter 6, Housing SEPP, effective 28 February 2025). The site is located within 800 meters of Penrith station and town centre, a nominated location under the policy.
• Boarding House: Boarding houses are expressly permitted with consent under the Penrith R4 LEP. The Housing SEPP allows boarding houses to access the maximum permissible floor space ratio (FSR) for residential accommodation plus an additional 30% FSR where extra floor space is used solely for boarding house purposes.
• Co-Living Housing: Co-living housing is expressly permitted with consent under the Penrith R4 LEP where residential flat buildings are permitted. The Housing SEPP allows co-living housing up to the standard residential FSR plus an additional 10% FSR bonus. A minimum communal open space of 20% of the site area is required.
• Medical / Health Services Facility (Development Application required): Lethbridge Street is an active and growing medical corridor. Recent development applications and transactions include medical centres and health services facilities nearby. The $1 billion plus Nepean Hospital Stage 2 redevelopment, due for completion in late 2026, is driving sustained demand for consulting and specialist space in this precinct.

This site represents a rare opportunity to acquire a substantial landholding in a high-demand location with multiple development pathways available, subject to council consent. The existing structure has reached the end of its chapter, but the land beneath is ready for a new story to be written.

The property will be sold by auction, providing an exciting prospect for developers and investors looking to capitalize on Penrith's growth and development potential.

Interested parties are advised to conduct their own independent enquiries to verify all information and assess the suitability of the site for their intended development purposes.

Location