92-94 Princes Highway, Thirroul NSW 2515

Development site with DA for five townhouses | Large 1,695m² lot | Ocean and escarpment views | No overlays | Highway frontage This property presents a rare, turnkey development opportunity on a large parcel with approved plans for five luxury townhouses, eliminating planning risk and time. Its competitive strength lies in the approved density on a lot of this scale with dual views, serving a developer seeking immediate commencement or an investor acquiring an entitled asset with significant upside. The existing house provides interim rental income, positioning the buyer flexibly. Proceed with a clear exit strategy. The primary risk is absorbing holding costs during construction in a shifting credit environment; the approved DA mitigates but does not eliminate this. The commercial logic is compelling: execute the build for premium sales or hold the completed townhouses. The judgment call is to acquire only if you have the capital and expertise to develop; otherwise, the entitlement premium is wasted. For a passive buyer, the existing house is an ordinary holding on a valuable piece of land. Recent comparable sales contextualise the local market: – 2/92-94 Princes Highway (off-plan townhouse): Sold for $1.425m, indicating strong buyer appetite for premium, view-oriented product in this specific location. – 82 Princes Highway, Thirroul (0.7km): Sale data provides a benchmark for nearby highway-frontage properties. – 7/208 Princes Highway, Bulli (2km): A broader suburb comparison, though further from the immediate locale. The off-plan sale of a subunit at a premium supports the feasibility of the approved townhouse project, suggesting the end-values could justify the development outlay. The lack of recent, direct lot sales underscores the uniqueness of this large, approved parcel.