This opportunity benefits from the following key investment considerations;
30.72* hectares of land zoned 2(c) Residential;
The land has development consent for 282 lots, plus one medium density lot (with a lapsed DA approval for 68 dwellings); and
With the removal of Stage 1 (known as ‘Scribbly Gums’), which is sold, the subject offering has development approval for 225 lots (including the medium density lot).
LOCATION
The subject property is located on the eastern side of Old Southern Road, South Nowra, opposite Quinns Lane.
Nowra is a city in the south coast region of NSW with a population, together with its twin-town of Bomaderry of 27,478 (source: ABS). The region around Nowra is a farming community focused predominantly around the dairy industry and a number of State Forests but is also increasingly a retirement and leisure area for Canberra and Sydney.
The subject property is located approximately:
160km south of Sydney CBD.
80km south of Wollongong CBD.
60km north of Ulladulla CBD.
SITUATION
NOWRA CBD
Nowra CBD is located approximately 4.5km north-west of the subject property.
NATURE RESERVE
The land adjoins the Currambene Nature Reserve.
PRINCES HIGHWAY
The Princes Highway is located approximately 1km to the west of the subject property where major retailers such as Bunnings Warehouse and McDonalds Restaurant are located.
SURROUNDING DEVELOPMENT
The bulk of development on Old Southern Road is made up of detached residential dwellings. Land uses on Quinns Lane, which links Old Southern Road with the Princes Highway are largely light-industrial.
DESCRIPTION
ADDRESS
The undeveloped portion of the ‘Twin Waters Estate’, 268 Old Southern Road (opposite Quinns Lane), South Nowra, NSW, 2541. Please note that Stage 1 of the Twin Waters Estate, known as ‘Scribbly Gums’ does not form part of the sale.
IMPROVEMENTS
The property is a cleared development site, other than a small dilapidated shed to its northern boundary.
TENURE
The property is offered with the benefit of vacant possession.
TITLE DETAILS
Part Lot 158 in Deposited Plan 1068633.
BOUNDARIES
Old Southern Road frontage (western boundary): 539.6*m.
Nowra Hill Road frontage (northern boundary): 462.7*m.
SITE AREA
31 hectares, comprising 30.72 hectares to the east of Old Southern Road and 905sqm to the west of Old Southern Road (this portion provides an easement for sewerage).
TOPOGRAPHY
The Land possesses a gentle cross fall generally from south east to north west and is partly traversed by a shallow creek. The majority of the land is cleared of vegetation with grassed areas.
SHALE QUARRY
The north eastern section of the property comprises a former shale quarry. This area has been excavated and the quarry is now filled with water, which will be incorporated into the subdivision as a water feature.
SERVICES
Electricity, town water and telephone are available to the property with the sewer being available for extension from a nearby location.
PLANNING
LOCAL AUTHORITY
Shoalhaven City Council
T: 61 2 4429 3111 F: 61 2 4422 1816
36 Bridge Road, Nowra, NSW, 2541
www.shoalhaven.nsw.gov.au
LOCAL ENVIRONMENTAL PLAN
Shoalhaven Local Environmental Plan 1985.
ZONING
Part 2(c) Residential and part 9(a) Natural Hazards.
DEVELOPMENT CONTROL PLAN
Various, please see S.149 Certificate.
EXISTING DEVELOPMENT CONSENT
Development consent was granted in September 2003 for a 5 staged 274 lot subdivision, and 1 medium density lot. In addition there was approval for public open space areas. (Development Consent SF9298).
Subsequently, a Section 96 modification was granted on 21 June 2005 (DS04-1722 & DS05-1336) for a staged 282 lot residential subdivisions, 1 medium density lot and an embellishment of the creation of public open space.
The residential lots within the subdivision vary in size from 601m2 to 1,098m2 with most being between 650m2 to 800m2.
The medium density site incorporates 68 two storey townhouses, comprising 26x4 bedroom, and 42x3 bedroom, within a community title subdivision. The development consent, determined in March 2005 (DA04/2983) also comprises the access roads with associated landscaping and visitor car parking.
An additional development consent has been granted for the demolition of the existing residence near the intersection of Quinns Lane and Old Southern Road.
STAGING OF DEVELOPMENT
Consent for the development is given for the development in 6 stages. Since Stage 1 is not part of the Land for sale the remaining stages are as summarised below:
Stage Comprises
2 (a): Lots 15-23, 58-66, 100-115, 168-171, proposed medium density lot and embellishment of public reserve.
2 (b): Lots 24-57 and Lots 116 & 117.
3: Lots 172-178, 227-246, 257-263, 274-281 & 172.
4: Lots 179-186, 195-226, 264-273.
5: Lots 118-167, Lots 187-194.
DUE DILIGENCE DISC
A due diligence disc is available upon request containing all plans and approvals available.
METHOD OF SALE
The property is to be sold by Public Auction at 10:30am on Tuesday the 21st of September 2010.
AUCTION LOCATION
The Sydney Auction Centre, 55 Harrington Street (The Rocks), Sydney NSW 2000.
*Approx.
