1203/500 Pacific Highway, St Leonards NSW 2065

Level 12 high-rise | 1-bed with large strata lot | Pacific Highway address | Strong public school catchments This unit presents a specific configuration advantage within the St Leonards high-rise precinct, combining a single-bedroom layout with an unusually large strata land entitlement of 1,165 square metres. That substantial lot size, typically associated with larger apartments, suggests a potentially favourable distribution of common property costs and could indicate a more generous share of building amenities, which is rare for a one-bedroom offering. Its position on the twelfth floor within a well-serviced block, directly on the Pacific Highway, caters to a professional buyer seeking low-maintenance living with immediate access to transport and the established catchment zones for Anzac Park Public School and Cammeraygal High School, which underpins long-term demand from both owner-occupiers and investors focused on family renters. The primary decision hinges on reconciling the unit’s atypical strata lot size with the limited direct sales evidence for one-bedroom apartments in this specific tower, creating a valuation challenge. You risk overcapitalising if the premium for the larger land share is not recognised in the resale market, which remains anchored by more common, smaller-lot one and two-bedroom stock. The commercial opportunity lies in securing a property where the strata title detail may be undervalued by the market due to its non-standard nature, offering a point of leverage in negotiation. Acquire this for the land entitlement and school catchments as a long-term hold, but only at a price that does not pay a significant premium over standard one-bedroom comparables, as the exit market may remain narrowly defined. Recent sales in the immediate vicinity provide context for the building’s value range: – 1203/472 Pacific Hwy: 3 bed, 2 bath, sold for $2,490,000 in November 2023. – Comparable estimates for nearby units indicate a 1-bedroom at approximately $660,000 and a 2-bedroom around $1,502,000. This spread confirms the building commands strong prices for larger configurations, but the subject property’s value will be constrained by its single-bedroom layout; its price should sit meaningfully above the estimated one-bedroom value due to its larger strata lot, yet well below the two-bedroom price point, establishing a clear negotiation corridor.