5 Wareemba Place, Lilli Pilli NSW 2229

Deep waterfront | near-level 2,099m² block | DA-approved 790m² rebuild | boatshed with slip rails | quiet cul-de-sac This property’s primary buying case rests on three rare, combinable factors: a near-level deep waterfront block of over 2,000 square metres in a quiet cul-de-sac, direct water access with a boatshed and slip rails suitable for a ski boat, and a DA-approved plan for a 790-square-metre home with basement parking and elevator. For a buyer seeking a premium family residence or a high-end rebuild project in a tightly held pocket, this configuration is competitively scarce. The existing 1970 brick cottage offers a live-in renovation option, but the approved plans are the real strategic value,they remove approval risk and timeline uncertainty for a buyer intending to build. The property serves best a buyer with capital to execute a luxury rebuild, who values privacy, water frontage, and immediate access to the national park views. The flood overlay is the specific risk here; it may increase insurance costs and affect some financing terms, and should be verified against the DA conditions. The absence of bushfire or heritage overlays simplifies the build path. The street has no recent sales data, which means pricing is opaque and requires careful comparable analysis beyond the suburb. The 2009 purchase price of $3.3 million is stale, but the approved plans and waterfront scale justify a significant premium. The inclinator is a practical asset on this block, not a luxury. The buyer should hold this property as a long-term family home or a prestige rebuild for resale, not as a rental,the rental yield is secondary to the land and location value.