Developers pounce on Mosman and Cremorne luxury apartment sites in $100 million deal.

Published On: May 22, 2025

Exclusive by ANNA USHER

Ten local property owners, five in Cremorne and five in Mosman, are celebrating after the sale of their “Mega Lot” amalgamations, worth around $100 million.

Numbers 118, 120, 122 and 124 Benelong Rd, along with 72 Gerard St, exchanged on Monday night in a “lightning fast” deal by Savills, who confirmed the confidential sale with Mosman Collective today.

This Cremorne “Mega Lot” sold just days after it was listed with Savills, for an estimated $39 million.

Sources tell us the 2,082sqm land holding traded for around $39 million.

“This strategically located opportunity is zoned appropriately under the Low and Mid-Rise State Environment Planning Policy, providing development potential for 5,955sq m^ of Gross Floor Area (STCA),” Savills said.

118 Benelong Rd, Cremorne.

122 Benelond Rd, Cremorne.

Zoned R4 High Density, the site has a northerly aspect and promises to unlock panoramic views over Northbridge and Middle Harbour, with “seamless access” to the CBD. It is within 400 metres of Cremorne Town Centre, which permits a building height of 22 metres (six storeys) and a Floor Space Ratio (FSR) of 2.2:1.

But thanks to the new in-fill affordable housing reforms, the new owner can benefit from a 30% increase in height and floor space ratio, potentially allowing a building height of 28.6 metres.

These five homes on Rangers Ave in Mosman have sold under the radar for a confidential price – believed to be $60 million.

Savills also confirmed they recently finalised an off-market deal of five amalgamated homes on Rangers Ave in Mosman.

Mosman Collective can reveal numbers 13, 15, 17, 19, 21 and 23 Rangers Ave sold in one line for an eye watering number “around $60 million”, according to one source.

Savills would not confirm the sale price, but told Mosman Collective the deal was negotiated three weeks ago.

They also confirmed that separate parties purchased both sites.

21 Rangers Rd, one of the properties that recently sold as part of a 3,000sqm Mosman “Mega Lot”.

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Late on Wednesday, a neighbouring “Mega Lot” on Rangers Ave was placed on the market with a price expectation of around $47 million.

Colliers are marketing numbers 25, 27, 29 and 31 Rangers Ave as an “opportunity to develop up to four storeys (17.5 metres building height)”.

The 6,655sqm parcel offers “strong potential to capture breathtaking views of the Sydney Harbour Bridge and city skyline,” a Colliers Information Memorandum states.

Expressions of Interest on this latest property close on Thursday, 19 June.