FOR SALE
Auction - 26/10/2024 - Bidders Guide $3,500,000

42 Naval Parade
Erowal Bay NSW 2540

Bedrooms: -
Bathrooms: -
Car spaces: 6
Land area: 1926m2
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Auction Time
Sat 26 Oct 10:00 am
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No upcoming inspections scheduled.
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Calling All Visionaries and Trailblazers! Property Developers, this is Your Golden Opportunity!

Discover an exceptional development prospect at 42 Naval Parade in the picturesque Erowal Bay. This expansive property sprawls across 1926 sqm block and holds full Development Approval (D/A) for an impressive 15-unit complex. The development plans includes two luxurious penthouses and two versatile commercial premises and a car park, setting the stage for a lucrative project.
Here's what makes this opportunity truly remarkable:
Situated directly across from the waterfront, this property offers breathtaking water views and provides convenient access to Erowal Bay's tranquil waters.
Remarkably, it is the sole commercially zoned property in the immediate Erowal Bay area, offering unique prospects.
Generous Land Size: 1926 sqm of land.
This property comes with approved D/A in place, making it an enticing option for developers eager to kick-start a project immediately. The approval encompasses two penthouses that offer uninterrupted water views, promising luxurious coastal living, and two commercial premises that hold potential for various business ventures.
The architecturally designed and developed plans for the proposed unit block are thoughtfully and purposefully created, with an ecologically friendly approach that harmoniously integrates with the natural surroundings.
Erowal Bay is renowned for its natural beauty, providing a serene coastal setting ideal for seclusion, relaxation, and outdoor activities. The area is surrounded by some of the finest beaches, including Hyams, Huskisson, and Vincentia.
Erowal Bay and the surrounding beach suburbs are highly sought after and while significant development has occurred in the surrounding areas, Erowal Bay has remained untouched. This presents a rare opportunity to be one of the initial developments within the suburb and capitalize on the early stages of growth.
Investment Potential: This property presents a lucrative investment opportunity, given the high demand for waterfront properties and quality accommodation in the region.
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Property Details for 42 Naval Pde, Erowal Bay

Building Type
Commercial
Land Size
1926m2

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About Erowal Bay 2540

The size of Erowal Bay is approximately 3.5 square kilometres. It has 2 parks covering nearly 61.6% of total area. The population of Erowal Bay in 2011 was 553 people. By 2016 the population was 623 showing a population growth of 12.7% in the area during that time. The predominant age group in Erowal Bay is 60-69 years. Households in Erowal Bay are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Erowal Bay work in a trades occupation. In 2011, 77.3% of the homes in Erowal Bay were owner-occupied compared with 77.8% in 2016.

Erowal Bay has 512 properties. Over the last 5 years, Houses in Erowal Bay have seen a 64.58% increase in median value. As at 31 August 2024:

  • The median value for Houses in Erowal Bay is $711,511 while the median value for Units is $501,469.
  • Houses have a median rent of $550.
There are currently 10 properties listed for sale, and 1 property listed for rent in Erowal bay on OnTheHouse. According to CoreLogic's data, 7 properties were sold in the past 12 months in Erowal bay.

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Jason Dorling
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Jacqueline Crapp
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