By ANNA USHER

Six homes will be demolished and replaced by luxury apartments in a new Mosman “mega lot” deal believed to be worth more than $40 million.

Numbers 93, 95, 97, 99, 101, and 101a Awaba Street have amalgamated into a 1,962 sqm site, with plans already lodged with Mosman Council under the new Low to Mid-Rise Housing controls.

If approved, 29 new two- and three-bedroom units, along with parking for 58 cars, will provide high-quality residences within walking distance of Spit Junction.

Developers Metis Pty Ltd anticipate that the major residential project, with frontages to both Awaba Street and Cowles Road, will cost $43,922,652.

Documents submitted to the Council show eight two-bedroom units and 21 three-bedroom units, spread over six storeys, with two basement levels.

“The inspiration for the project comes from the spectacular and rich natural beauty of Mosman and the Middle Harbour surrounds,” Metis said in its Design Statement, “Our vision is to create an elegant and timeless building that will contribute to the neighbourhood vitality while being one of the first to embrace a future built form vision for Mosman.”

In recent weeks, super site property deals, like the staggering $60 million Rangers Ave sale, have sparked a flurry of “over the fence” conversations on the lower north shore, one local agent told Mosman Collective.

“The look and feel of the neighbourhood is changing right before our eyes,” he said, “there’s a lot of local homeowners doing the numbers and weighing up if the time is right to cash in,” he said.

“Property developers are letterboxing streets between Mosman and North Sydney, and they’re looking for groups of homes to amalgamate into one parcel of land.

“There are deals to be done – at the right price.”

One prominent local developer, speaking on the condition of anonymity to Mosman Collective, stated that he believed the Awaba St site sold for $41.5 million.

“For the people who own these homes, it’s a once-in-a-lifetime opportunity to sell, well above market value,” he said.