22 Kitchener Street, Oatley NSW 2223

Large block | dual occupancy approved | sold March 2024 | redevelopment ready | Oatley prestige pocket The buying case here is driven by the land, not the house. A 1000 m² parcel in a high-value suburb with an approved dual occupancy proposal including basements and pools is rare. The configuration advantage is immediate: a buyer can either hold the existing four-bedroom, two-bathroom dwelling as a low-risk interim income position or proceed with demolition and construction of two dwellings. This property is best suited to a developer or an owner-occupier with capital who values land banking with a clear path to uplift. The March 2024 sale date suggests recent price discovery, and the planning application lodged in August 2024 indicates the site is already being treated as a development opportunity. Risk is concentrated in the execution gap: the existing house likely has limited appeal as a long-term family home, and holding costs will erode returns if the development timeline slips. The conflicting bedroom and bathroom counts across sources are a minor data quality issue, not a structural risk. The opportunity is a two-lot dual occupancy on a single title in a suburb with a median house price of $2.768 million, meaning the end value of two dwellings could significantly exceed the acquisition cost plus build. The correct holding strategy is to secure the site, finalise the DA, and either sell with approvals or build and sell individually. This is a land play with a defined exit.