Landmark Randwick Development Site With Water Views & Exceptional Potential

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71 St Marks Road, Randwick NSW 2031

Auction

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$3.9M - $4.29M Low Confidence Calculated based on limited search observations.

House 5 Beds 1 Bath 1 Car 415 m²

Listed: 54 days ago

Updated: 28 days ago

Overview

This elevated and prized 415sqm north-east facing corner offering at 71 St Marks Road presents a unique opportunity for residential development in the tightly held Randwick market. The dual street frontages and elevated position not only maximize light and outlook but also frame captivating water views from the upper levels, enhancing the appeal of the site for sophisticated multilevel living.

The property benefits from recent NSW planning reforms allowing for increased development potential, with a floor space ratio (FSR) of up to 2.2:1 and a height limit of six storeys. This flexibility is complemented by existing development approvals for three luxury terrace-style homes, as well as concept plans for boutique apartments or a substantial four-bedroom duplex, offering multiple pathways to tailor a premium residential project suited to discerning buyers or developers.

Positioned within close proximity to Randwick Town Centre, Coogee Beach, and prominent educational and health precincts such as UNSW and the Randwick Health & Innovation Precinct, this site offers not only a compelling development possibility but also lifestyle benefits for future occupants or investors. Easy access to Randwick Light Rail and major bus routes further enhances connectivity.

Approx. 415sqm land area on a sought-after corner
Dual street frontages with an elevated vantage point
Water views visible from level one and above
Planning reforms enable up to six storeys and an FSR of 2.2:1
DA approved for luxury terraces, with alternative concepts for boutique apartments or duplexes
Less than 400m to Randwick Town Centre
Moments to key amenities including Coogee Beach and UNSW

This offering is particularly suited to developers or investors seeking a versatile and high-potential site in one of Sydney's premium eastern suburbs, with strong prospects for delivering a prestigious residential project that harnesses the location, views, and planning advantages.

Local Market Insights

In Randwick, Quiet Listings observed 8 new houses entering the market over the last 30 days, down from 11 during the previous 30-day period, with an average advertised asking price of $5,400,000. The property type mix of listed properties is predominantly Apartments at 61%, followed by houses (22%), and townhouses (6%). The most active agency for houses in the Randwick area is currently Ray White, representing 38% of new listings, followed by Belle Property with 25%. 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.