NSW Government offers rare freehold Sydney harbourside parcel of land

The NSW Government has listed a prime piece of freehold land on Sydney's harbourside at Walsh Bay.

Located at 14 Hickson Road, the vacant 718 sqm parcel has two street frontages and is prime for a premium boutique mixed-use retail/residential development. 

Marketed by Savills agents Stuart Cox, Robert Lowe and Neil Cooke, the agents see the land as a unique opportunity to acquire a rare, freehold parcel of level land with excellent development upside.

“Surrounded by some of Sydney’s most expensive real estate, 14 Hickson Road is located within one of Sydney’s most prestigious locations," Stuart said.

"Moreover, as Sydney’s prime residential market continues to remain buoyant, coupled with the lack of ultra-prime sites for luxury residences, we expect strong competition for this site, both local and international."

Any development will need to adhere to existing planning controls within the Sydney Regional Environmental Plan No.16, including consideration of the heritage significance of the precinct.

Kann Finch, the highly regarded international architectural firm has prepared a design for a single mixed-use development of 8 levels, comprising 19 lavish apartments above a small ground floor retail area space of circa 192 sqm.

The retail space benefits from two additional 70sq m terrace areas located on levels 2 and 3 providing panoramic northerly views out over Sydney Harbour.

In the neighbouring Millers Point, RP Data recorded 48 sales in excess of $2 million in 2015.

Buyers who had purchased apartments within Barangaroo have reported price increases of circa 24% for a one-bed and 35% for a two-bed since 2013.

The expressions of interest for the campaign will close on September 7.