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Case Study Residential: 6-30 Artarmon Road, Willoughby NSW

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6-30 Artarmon Road, Willoughby represents a unique opportunity on Sydney’s spectacular and highly held Lower North Shore. The sale is the largest residential development site sold since 2018.

 

The Opportunity

Currently 6-30 Artarmon Road, Willoughby is the home to the Channel 9 television studios. The almost three-hectare property is an elevated large parcel of land in the prestigious Lower North Shore. The property is master planned approved for 460 apartments across ten buildings and includes the adaptive reuse of a small commercial building. The masterplan also includes a series of piazzas and publicly accessible open green spaces.

Challenges

The slowdown of the residential market during 2018 and 2019 concerned many buyers and was limiting their confidence. Through thorough research, Colliers identified that residential supply in blue chip suburbs was diminishing dramatically, setting the scene for potential under- supply. 

The campaign demonstrated the likely undersupply scenario and the opportunity to provide quality residential product in a low supply environment on the highly sought after Lower North Shore. 

Some potential buyers raised concern with the perceived negative impacts of the television transmission tower. Understanding this, Colliers actively worked with the transmission tower owners to include the transmission tower land in the transaction.

Outcome

The overall outcome was eleven offers received resulting in an unconditional sale. In addition, the transaction included the sale of the transmission tower land enabling the tower to be removed, enhancing not only the value of the property but also neighbouring properties. 

Testimonial

"The Colliers Team were outstanding and should be commended in their efforts in assisting LEPC9 Pty Ltd realise a record-breaking result for the sale of our site at 6-30 Artarmon Road Willoughby, the previous home of the Nine Network."

Damien Kiley

Director of Development
LECP9 Pty Ltd


Related Experts

Guillaume Volz

National Director | Development Sites

Residential

Sydney CBD

Guillaume is recognised as one Sydney’s leading agents that specialises in the sale of Residential Development sites.

Having sold some Sydney’s iconic residential development sites in recent years, Guillaume’s reputation and experience as a proven performer has earned him the respect and confidence of his clients and peers.

Guillaume is actively involved in assisting clients with acquisition and divestment strategies that requires a detailed knowledge of the project marketing and sales environment, as well as expertise in planning requirements and feasibility analysis.

With an established network of Asia Real Estate investors, Guillaume is part of the Colliers China Outbound Investment Group.

View Expert

Eugene White

Director, Development Sites

Residential

Sydney CBD

Eugene has over 20 years experience in the property and construction industries including extensive experience with a major publicly listed developer and in the funds management environment. Eugene has extensive experience in large range of projects in various capacities including senior development and project management roles. He has been involved in many landmark complex developments such as Hayman Island, Discovery Point, Honeysuckle Newcastle, Port Coogee WA, King Street Wharf, Jackson Landing and Citibank Centre Sydney.

Eugene holds a deep understanding of property markets, development opportunities and construction projects established through extensive experience and involvement with a wide range of large scale property development projects from management positions and at the coal face.

He has managed most facets of development projects from inception to disposal. This includes acquisition, disposal, brief planning, feasibiliies, engagement of consultants, obtaining aprovals, marketing, sales and leasing. Eugene’s sales experience was founded with asset acquisitions and asset sales for a private fund manager. His diverse experience will assist clients to achieve success.

 

 

 

 

View Expert