292 Willoughby RoadNaremburn NSW 2065
Property Details for 292 Willoughby Rd, Naremburn
Last Listing description (August 2023)
CBRE as the exclusive sales agent, is pleased to present 292-298 Willoughby Road, Naremburn to market. Commanding a significant presence in Naremburn's Town Centre and directly opposite to the M1 Freeway entry & exit ramp, the property presents a unique opportunity to acquire a freehold land rich investment with significant development upside on Sydney's prestigious Lower North Shore.
292-298 Willoughby Road benefits from the following key features:
- Flexible planning controls providing for a potential future mixed-use residential development (STCA)
- Earmarked for an increase in FSR and height limit under the Willoughby Local Centres Strategy to 2036 - Naremburn Town Centre
- Potential GFA of 1,290sqm* under the Willoughby Local Centres Strategy to 2036 - Naremburn Town Centre
- Prominent 19.6m* frontage to Naremburn Town Centre amongst bustling shops. Benefiting from a council car park directly out front
- Significant diversified holding income from multiple tenancies
- Net Holding Income: $315,941.92* per annum
- Tenants pay 100% of outgoings
- Demolition clause in all leases to enable future development
- Rear lane providing access to tenant car parks and access for future development
- Lifestyle focused location in proximity to a wealth of amenity including retail centres, employment, restaurants, transport, luscious reserves and schools
292-298 Willoughby Road, Naremburn is for sale by an Expression of Interest campaign closing Wednesday 7 June, 2023 at 4pm (AEST)
For more information, to arrange an inspection or to request access to the due diligence room, please contact the exclusive selling agents.
*Approximate. Outline & labels indicative
Property History for 292 Willoughby Rd, Naremburn, NSW 2065
- 30 Nov 2023Sold for $1,607,556
- 10 May 2023Listed for Sale Contact Agent
- 23 Mar 2020Listed for Rent $50,000 / year
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0About Naremburn 2065
The size of Naremburn is approximately 1.2 square kilometres. It has 7 parks covering nearly 16% of total area. The population of Naremburn in 2011 was 5,474 people. By 2016 the population was 5,895 showing a population growth of 7.7% in the area during that time. The predominant age group in Naremburn is 30-39 years. Households in Naremburn are primarily couples with children and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Naremburn work in a professional occupation. In 2011, 63.8% of the homes in Naremburn were owner-occupied compared with 61.8% in 2016.
Naremburn has 2,926 properties. Over the last 5 years, Houses in Naremburn have seen a 51.05% increase in median value, while Units have seen a 19.77% increase. As at 30 September 2024:
- The median value for Houses in Naremburn is $3,407,550 while the median value for Units is $1,245,974.
- Houses have a median rent of $1,150 while Units have a median rent of $790.
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