A landmark site of 5,152 sqm* at 60-72 and 74 Flinders Street in Wollongong is being taken to the market via an Expressions of Interest campaign run by Knight Frank agents Ben Mostyn, Ben Churven and Anthony Pirrottina.
The high-profile development site of scale, which is a short walk from the Wollongong CBD, offers an ideal build to rent or build to sell opportunity, with a potential gross floor area of over 15,000 sqm (subject to council approval).
Mr. Mostyn said the value of the property was underpinned by favourable zoning controls with excellent proximity to University of Wollongong, local beaches and the CBD.
“This substantial landholding is in a location permitting a broad range of potential development outcomes, including a mix of residential and commercial uses,” he said.
“The site is primed for immediate redevelopment, with only a month license agreement in place in the existing improvements.
“It is situated with a significant 80 m* frontage to Flinders Street, a major arterial road running through Wollongong and surrounded by local transport, retail and healthcare amenity, all a stones’ throw from the city’s famous beaches.”
Mr. Churven said the property occupied a high-profile location at the gateway to Wollongong, just 850 m* north of the city’s CBD.
“This is a rare property of scale within Wollongong’s growing urban footprint, allowing the incoming purchaser to capitalise on the high growth potential of the Wollongong residential market,” he said.
“Wollongong is undergoing significant change, driven by landmark developments and soaring residential values.
“The precinct north of the CBD is undergoing a rapid transformation from a traditional light industrial hub to a trendy inner city residential suburb.”
The Expressions of Interest campaign for the property will close on Thursday, 14 September 2023 at 4pm.
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