Church seeks development partner at Naremburn

The Catholic Diocese of Broken Bay and Lower North Shore Parish is seeking a development partner to replace ex-school buildings on a 1.5 acre Naremburn site.

At 43 Donnelly Road, the R3 zoned parcel also fronting Willoughby Rd and Merrenburn Avenue, contains the St Leonards Church which must be retained, and a presbytery earmarked for re-use.

Part of the balance could make way for a 12 metre tall buildings.

Colliers International’s Guillaume Volz, Eugene White and Henry Burke, with Charter Keck Cramer as transaction adviser, are representing the vendor.

The latter’s national executive director, Bennett Wulff, said “the development partnership will ensure sustainability of the existing parish uses into the future via a renewal of the site and unlocking of underlying land value”.

The advisory said an ex-church site with similar characteristics at 29-33 Oxford St, Epping, has recently been replaced by Stockland with a vertical retirement and aged care tower, school, hall and parish offices (story continues below).

“The opportunity to develop a premium apartment, townhouse or seniors living development in this tightly held location will offer enormous appeal to the development community,” Mr Volz said of his latest listing, which is 16 kilometres closer to the city on Sydney’s Lower North Shore.

“Naremburn is on the doorstep of Crows Nest that is undergoing structural change from suburban village to sub-regional centre with the delivery of the Sydney Metro station only 750m from the site.

“With major commercial and residential development imminent around the Pacific Highway location of the station, the site’s boutique nature with potential for a low scale development in the leafy streets…is sure to hold strong appeal for future residents, including the growing number of downsizers that are attracted to the area”.

The suburb is about six kms north of the city.

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Marc Pallisco

A former property analyst and journalist, Marc is the publisher of realestatesource.com.au.

Marc Pallisco