There is an ongoing demand for purchasers to secure residential accommodation in established Sydney suburbs although finding land for new projects in these well established areas is extremely limited. Not all families want to live in an apartment and house sites and large town homes remain extremely popular. One novel concept being explored by savvy developers is looking at land owners with substantial holdings such as golf clubs and other services clubs who may be struggling financially. Traditionally memberships to these clubs are declining and the costs to maintain the clubs are ever increasing. Most clubs hold large footprints in high demand suburbs whereby carving off a small part of a larger parcel will enable the club to realise a financial windfall they so urgently need. This provides a win win situation for all parties enabling boutique housing development opportunities in sort after suburbs in Sydney and the club a well needed cash injection to continue to maintain their member’s facilities well into the future.
This concept has already been achieved in Strathfield in Sydney along with a number of other sites across Sydney metropolitan area. As housing demand continues and land is in increasingly short supply we may see more and more of this during the coming few years of the development cycle.
If you are interested in development sites or require advice & recommendations please call the RHCOP team for a confidential discussion on 02 9739 9788.