2 Frederick Street
Wollongong, NSW 2500

Overview

2 Frederick Street, Wollongong, NSW, 2500

This property presents an excellent commercial opportunity in the heart of Wollongong. It is a rare DA approved development site currently offered for sale, featuring approval for a 67-room boarding house. The zoning for this site is R1, and the total land size is approximately 1,062 square meters.

The site benefits from an efficient design layout that includes basement parking, making it suitable for various uses such as affordable housing, medical facilities, student accommodation, or other multiple private accommodation operators. Recent changes in zoning regulations suggest that further development opportunities of this size for boarding houses may not be approved again, adding to the property's unique value.

There is potential to work with the existing Development Application (DA) to tailor the project to current market trends, subject to council approval (STCA). The site offers an easy building schedule, allowing for streamlined development.

Strategically located in the central CBD area, the property capitalizes on excellent transport infrastructure including proximity to the CBD rail and bus routes. It is also near key amenities such as public and private hospitals, Wollongong University, and the CBD Mall shopping precinct. Sydney CBD and the airport are conveniently accessible within approximately one hour.

Currently, the site includes a well-maintained three-bedroom brick residence that generates a rental income of $720 per week. This adds immediate value while development plans are considered.

This property is a must-see for investors or developers looking to capitalize on a prime location with significant development potential in Wollongong's CBD precinct.

Location