Developers swoop on Lower North Shore apartment sites
EXCLUSIVE
Two Lower North Shore apartment building blocks have sold to developers in deals worth just over $100 million total.
In Cremorne, 118-124 Benelong Road and 72 Gerard Street – a 2082 square metre amalgamation – has traded for a speculated c$39m.
Helm Properties recently submitted a proposal to replace the sloping holding with 23 apartments over four storeys.
Up to eight floors – 22 metres – could have been considered, according to the marketing agency, Savills.
Meanwhile a row of homes covering 13-23 Rangers Avenue, Mosman – a c3047 sqm amalgamation, according to sources – has traded, off market.
Also facing Bloxsome Lane, with spectacular water views, it was marketed for it potential to yield a low-mid rise apartment complex.
The incoming owner is as yet unknown – as is the price.
Savills was again the broker.
More to come.
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