Amalgamation on the rise

The Colliers North Sydney Investment Services team, in collaboration with Colliers Residential Site Sales, have built a name for themselves as the amalgamation experts of Sydney’s Northern Suburbs.

With 17 amalgamation sales to date, the teams have sold over 122,000 sqm in property worth over $1.05 billion, and represented over 190 owners. This track record highlights developer appetites in the area and the team’s ability to oversee complex negotiations and project management processes.

Their most recent appointment is 14-20 Premier Street, Neutral Bay: 4 apartment buildings, 3 units in each, selling in one line, with a site area of 2,175 and each block wholly owned by an individual owner.

The owners approached Colliers agents Blake Harvey and Henry Burke last year off the back of the sale at 102 Macpherson St, Cremorne – an amalgamated block of 4 that sold off-market to a developer – and tasked them with reaching out to the adjoining neighbours.

14-20 Premier represents a great value add opportunity in a booming market. The site is currently zoned low density but is flanked by high density zoning, giving potential buyers leverage to use the surrounding development and existing use rights (for apartments) on the land to push for a high-density development.

The site is centrally located with sweeping skyline and harbour bridge views, and is close to ferries, buses and Neutral Bay shops. Interest has been strong with over 150 enquiries to date, representative of how robust the Neutral Bay market is – with off the plan sales achieving close to $25,000 per sqm.

For more information, contact the exclusive selling agents Henry Burke, Blake Harvey and Guillaume Volz. EOI Closing 21st June.

Recent amalgamation success:

• 84 Alexander Street, Crows Nest: a commercial office strata building amalgamation with 12 owners, sold by Tom Appleby for $8,160,000

• 102 Macpherson Street, Cremorne: a residential amalgamation with 4 owners sold by Blake Harvey for $4,000,000

• 173-179 Walker Street, North Sydney: a residential amalgamation with 25 owners sold by Henry Burke

• “Skyline”, Berry Road and Holdsworth Avenue, St Leonards: a residential amalgamation with 10 owners sold by Henry Burke

• “Berry park”, Berry and Park Roads, St Leonards: a residential amalgamation with 14 owners sold by Henry Burke

• 2-10 Milner Street, Artarmon: a residential amalgamation with 5 owners, currently on market, contact Henry Burke for more info

For more information please contact
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