PRIME R4 DEVELOPMENT OPPORTUNITY - TWO PROPERTIES, ONE EXCEPTIONAL OFFERING!

Images and floorplans are provided for illustrative purposes and remain the property of their respective copyright owners.

21 & 23 Matthews Street, Punchbowl NSW 2196

Expressions Of Interest

Search Band Search Visibility Band

$1.4M - $1.54M High Confidence Calculated based on strong search observations.

House 6 Beds 2 Baths 2 Cars 854 m²

Listed: yesterday

Overview

This combined offering at 21 & 23 Matthews Street in Punchbowl presents a rare development opportunity within a highly accessible and established residential area. The total landholding of approximately 853.6 square meters, with a substantial combined frontage of roughly 17.86 meters, allows for substantial redevelopment subject to council approval.

Zoned for R4 High Density Residential purposes, the property supports a floor space ratio (FSR) of 2.5:1 and a maximum building height of 33 meters, which significantly enhances the site's appeal to developers and builders looking for high-density projects near convenient urban amenities.

These two adjoining properties can be sold together or separately. The first is a two-bedroom semi-brick home featuring one bathroom and a single parking space on approximately 366.7 square meters of land. The second is a freestanding four-bedroom residence also with one bathroom and a single parking spot on approximately 486.9 square meters of land.

Both properties provide off-street parking and sit close to key local amenities including the Punchbowl Train Station, schools such as Punchbowl Boys High School, and places of worship, further enhancing lifestyle convenience.

For investors and developers, this opportunity offers the chance to leverage zoning advantages and a strategic location within an urban precinct that supports diverse residential uses. The properties' combined sewer infrastructure along the rear boundary also facilitates development potential.

This site is well-suited to astute buyers seeking a significant project in a well-connected suburb with strong development prospects under the R4 zoning framework.

Local Market Insights

In Punchbowl, Quiet Listings observed 12 new houses entering the market over the last 30 days, up from 11 during the previous 30-day period, with an average advertised asking price of $1,895,833. The property type mix of listed properties is predominantly Houses at 50%, followed by townhouses (25%), and villas (8%). The most active agency for houses in the Punchbowl area is currently Ray White, representing 42% of new listings, followed by Raine & Horne with 33%. 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.