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Overview
This property offers an exceptional opportunity to acquire a development site with completed Development Application (DA) and Construction Certificate 1 (CC1) approvals, with all council contributions fully paid. This approval is for the construction of a 39-room new generation boarding house (NGBH), presenting a clear and well-structured pathway for prospective buyers to proceed with approved development, subject to their own due diligence and requirements.
The existing site currently features a four-bedroom home, generating an estimated rental income of approximately $850 per week. This creates a practical income stream while development plans are finalized, providing flexibility for the owner to either continue leasing the property in its current state or move forward with development plans as desired.
Strategically located within close proximity to local amenities, various transport options, and key employment hubs throughout Western Sydney and the broader Sydney region, this property benefits from strong underlying demand fundamentals. The approved NGBH scheme creates significant potential to enhance the value of the site and capitalize on the increasing demand for well-positioned, high-density accommodation in this area.
The combination of existing income potential and substantial future development opportunities makes this property a highly attractive investment. Interested parties have the chance to secure a site with clear approvals and council contributions settled, thereby significantly reducing the time and complexity often associated with residential development projects.
Overall, this listing presents a unique and compelling prospect for investors or developers seeking to enter or expand within the residential boarding house market segment, with the added advantage of established approvals in a well-serviced and accessible Sydney suburb.
Local Market Insights
In Merrylands, Quiet Listings observed 22 new houses entering the market over the last 30 days, unchanged from 22 in the prior period, with an average advertised asking price of $1,474,000. The property type mix of listed properties is predominantly Apartments at 49%, followed by houses (29%), and units (13%). Blue Prime Realty was the most active agency in this area, representing 12.5% of all new listings in the last 30 days. 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.
Location
Merrylands NSW 2160
Market Insights for Merrylands NSW 2160
Other properties in this postcode
* Search brackets are a technical classification derived from unverified metadata set by the listing agent for search filtering. It is not an official price guide, a valuation, or a representation of the seller's reserve. This data is provided for search transparency purposes only.
