Developers back NSW housing reforms as policy-led transactions begin to settle
Colliers has successfully sold a prime residential development site at 5-9 Bond Street, Mosman for approximately $35 million, marking a significant milestone for the Mosman market under NSW’s new Low and Mid-Rise Housing Policy. The 1,724 sqm site, offering 3,792.8 sqm of GFA, will be developed into 27 residential apartments and establishes a clear pricing benchmark for policy-enabled sites in the Lower North Shore.
The property was acquired earlier this year by Star Capital following a highly competitive campaign that attracted strong interest from major residential developers, institutional groups and high-quality builder-developers seeking to enter the Mosman market. The depth of competition and subsequent settlement underscores growing market confidence in the Low and Mid-Rise Housing Policy and its role in unlocking well-located housing opportunities in established suburbs.
Positioned in the heart of Mosman and just moments from Bridgepoint Shopping Centre, the property offers exceptional walkability to cafes, retail, dining and lifestyle amenity, supported by strong transport connectivity. This transaction is recognised as the first Mosman sale to settle under NSW’s new Low and Mid-Rise Housing Policy. Under the new controls, the site benefits from an uplift to a 2.2:1 FSR and a 22-metre height limit, enabling up to six storeys and unlocking potential district and glimpses of the CBD skyline.
“This result reflects not only the depth of demand for well-located sites, but also the market’s confidence in the new planning framework. The property’s scale, location and policy-led uplift made it a compelling opportunities in Mosman. The sale achieved an exceptional outcome for the vendors and secured the most favourable terms available in the current market, including a straight contract of sale and a nine-month settlement period. Importantly, it demonstrates that policy-enabled deals are transacting and settling,” said Guillaume Volz, National Director | Residential.
The transaction represents one of the first significant sales completed under the Low and Mid-Rise Housing Policy. Colliers’ recent Residential Wrap report highlights how recent planning reforms, including this policy are reshaping Sydney’s development landscape, unlocking opportunities for premium, well-located sites that appeal to downsizers and high-quality developers.
“The Low and Mid-Rise Housing Policy has introduced opportunities that simply did not exist previously, and developers are actively backing the intent of these reforms.
“While there has been public debate around increased density in established suburbs, the market response has been clear. Developers are underwriting these changes, sites are trading, and projects are moving forward. Mosman is undergoing a structural shift after decades of limited redevelopment. We’re seeing distinct sub-precincts emerge and pricing benchmarks stabilise, creating confidence for developers to deliver a new standard of product that will shape the area for years to come,” added Marina Corvalan, Associate Director, Development Sites | Residential.
As the Low and Mid-Rise Housing Policy becomes further embedded and development applications progress through the planning system, market confidence is expected to continue strengthening. More sites are anticipated to come to market over the next 12 months and while buyers will remain selective, well-located sites supported by clear planning pathways are expected to continue to attract strong competition, reinforcing the permanence of the policy and its role in addressing housing supply.
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