Elderly residents to be evicted for $288 million Lavender Bay tower.Exclusive: Clifford St block of 43 apartments joins Mosman’s “Mega Lot” wave.
The 1960s block at 2 Clifford Street, Mosman, where all 43 apartments are being offered in one line. Image: Di Jones Developments.
By ANNA USHER
Forty three home owners have banded together to sell their properties in a Mosman Mega Lot deal that could reap $80 million.
The 1960s apartment block at 2 Clifford St is being offered as a “premium residential development opportunity”, positioned in one of Sydney’s “most affluent and supply constrained” markets.
The same block, known as Eastview, in January 1977. Image: Mosman Library/Trace.
Known as “Eastview” the block was constructed in 1961, following the demolition of two homes at 5 and 7 Moruben Rd.
The 3,002 sqm site, one of the largest currently offered in the suburb, is located within 400 metres of Mosman Town Centre.
“The property is well positioned to benefit from the NSW Government’s Low & Mid-Rise Housing Policy, the proposed Mosman Master Plan, HDA & SSD pathways for approval,” an Information Memorandum (IM) released by Di Jones Developments states.
“This is a rare chance to secure a strategic foothold in one of Sydney’s most defensive residential markets, with multiple development pathways available depending on planning strategy and design outcome.”
The 3,002 sqm site outlined, with Balmoral behind. Image: Di Jones Developments.
Mosman Collective has approached Di Jones Developments for comment.
Records show the existing apartments are individually owned, many of them rented.
News of super site sale hit the internet on Wednesday, just one week after Mosman Council endorsed its draft Masterplan for 4700 more homes – a local response to the State Government’s new housing reforms, which have triggered a wave of development across the lower north shore.
The block sits within 400 metres of Mosman Town Centre. Image: Di Jones Developments.
With a 45m frontage, the Clifford St block is zoned R3 with a 22m height limit. Under the new housing reform, bonus height could be added if affordable housing is included in a future LMR development.
“Recent reforms under the NSW Low & Mid-Rise Housing Policy SEPP and support for this site under the proposed Mosman Master Plan represent a fundamental shift in the planning framework for 2 Clifford Street, Mosman,” the memorandum reads.
“For developers, this site offers large-scale development potential unmatched in the immediate area, ability to deliver medium-density housing highly sought after by downsizers, professionals and local families.”
The corner block has a 45 metre frontage. Image: Di Jones Developments.
The agent says developers have the benefit of corner frontage and potential for a landmark project benefiting from ocean views.
“This creates a compelling opportunity to deliver boutique, mid-rise residential project through either the council or State Significant Development (SSD) pathway,” the memorandum states.
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