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Overview
This property at 11 Lewis Street, Schofields, presents a unique opportunity as a strategic land holding with Development Approval (DA) for six townhouses. The site is a near-level, clear block designed to maximize construction efficiency and optimize site coverage, significantly reducing the typical 12 to 18 month lead time required for council approvals and consultant coordination. This advantage allows developers to expedite their projects and enter the market more swiftly.
The land spans approximately 2,452 square meters, situated in the thriving North-West growth corridor, offering a substantial footprint for development. Currently, the site is occupied by a well-maintained four-bedroom brick residence, which is not a typical knockdown property. This existing home provides immediate rental income potential, helping to offset holding costs during the development process.
Location is a key highlight, with the property positioned just 1.1 kilometers from Schofields Train Station and the Sydney Metro Link. This proximity ensures strong demand and premium price points for the completed townhouse project. Schofields is recognized as a premier destination for families, offering a balanced lifestyle with excellent connectivity.
The property falls within the Galungara Public School catchment area and is close to the Rouse Hill Town Centre, enhancing its appeal to buyers and investors. The approved townhouse project benefits from robust local demand and a shrinking supply of similar properties, underpinning the potential exit price and investment value.
11 Lewis Street is an ideal acquisition for developers who prioritize both time efficiency and profit margins. The site offers a rare combination of development readiness, strategic location, and existing rental income, making it a high-conviction investment opportunity in Schofields.
Property features include two car parking spaces, adding to the convenience and appeal of the site. The property is well-suited for developers looking to capitalize on the growing demand in the area and the streamlined development process already in place.
Overall, this offering represents a significant opportunity to secure a prime development site with immediate income potential and strong future growth prospects in one of New South Wales' most sought-after growth corridors.
Local Market Insights
In Schofields, Quiet Listings observed 33 new houses entering the market over the last 30 days, up from 29 during the previous 30-day period, with an average advertised asking price of $1,204,879. The property type mix of listed properties is predominantly Houses at 48%, followed by apartments (30%), and townhouses (9%). The most active agency for houses in the Schofields area is currently Ray White, representing 64% of new listings, followed by Hilton Parkes Real Estate with 12%. These insights are based on agencies currently monitored by Quiet Listings and are updated as the local market changes.
While every effort is made to ensure the accuracy and completeness of the property information provided, no guarantee is given. Buyers should independently verify all details, inclusions, availability, pricing, and other relevant information directly with the listing agent before relying on this information.
Change History
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Location
Schofields NSW 2762
Market Insights for Schofields NSW 2762
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