Amalgamation Frenzy: Mosman homeowners join forces to sell large allotments.

By ANNA USHER

Mosman’s land amalgamation frenzy is gaining momentum, with two more blue-chip sites newly on the market, aiming to attract developers’ attention.

Recently, homeowners at 138, 140, 142, and 144 Cowles Rd collaborated to form a significant 1,664 sqm parcel, estimated to be valued at around $25 million if successful in their joint venture.

The sale is being managed by commercial property firm Taylor Nicholas. “This opportunity allows developers to secure a premium site in one of Sydney’s most sought-after suburbs, bolstered by the robust downsizer market,” they commented.

Located within 400m of Bridgepoint, the properties are poised for transformation into a six-storey luxury apartment complex, boasting a gross floor area of 3,660 sqm, enabled by recent NSW Housing Policy reforms.

“The development is highly anticipated by the downsizer market, as evidenced by the strong sales of recent luxury apartments in the area,” noted a spokesperson from Taylor Nicholas.

Just a short distance away, another group of Mosman homeowners is looking to sell an even larger allotment of 2,355 sqm through Ray White Commercial.

Eight homes, at 74, 74a, 76, and 78 Cowles Rd, along with 17a, 17b, 17c, and 19 Wudgong St, are for sale in one line through an Expressions of Interest campaign.

Benefiting from three street frontages, the site is zoned R3 Medium Density, permitting a residential building up to 22 meters high (subject to Council approval).

“Boasting a total of 137 meters of street frontage on Cowles Road, Wudgong Street, and Wudgong Walk, this site stands to gain from the recently enacted Low and Mid Rise Housing Policy,” Ray White explained.

“Positioned on the elevated harbourside of Military Road, the properties enjoy a sun-drenched northern aspect with panoramic views towards Sydney Harbour and the CBD.”

Local real estate expert Rob Simeon shared with Mosman Collective that the suburb is witnessing an unprecedented “amalgamation frenzy”.

“We’ve never seen anything like it,” he stated.

“I know of many residents near Spit Junction who are considering collaborations to sell.

“However, developers are strategically selecting the most appealing sites, and homeowners should realize that simply owning property in this part of town doesn’t guarantee vast wealth.”