Wollongong Beachside DA Approved Residential Site Sells

Village Building Company has snapped up a DA approved residential site for in excess of $9m with capacity for 60 units, six villa homes plus 118 car parking spaces, just north of the Wollongong CBD.

Located at 54-62 Railway Street in Corrimal, the circa 9,093sq m site offers a 13 metre height limit and was sold by Robert Lowe of Savills Australia, on behalf of Aster Group, who said the site generated a lot of interest with over 110 enquiries and 10 contracts sent out.

“The property is zoned R3 Medium Density Residential and currently comprises a two storey commercial building with an extensive bitumen carpark to the rear. Approval was granted for the demolition of the existing building and the scheme proposes two residential buildings comprising of four storeys in height with single level basement car parking.

“This site is an extremely well placed development opportunity as there are minimal opportunities within the immediate area, which offer a beachside location within close proximity to local amenities including Corrimal Park Mall and Stockland Corrimal Shopping Centre, railway station, schools, parks and sporting facilities,” said Robert Lowe, Savills Director, Metropolitan & Regional Sales.

Corrimal is located 62km* south of the Sydney CBD and 5.8km* north of the Wollongong CBD. It is a beachside suburb of the City of Wollongong which has the benefit of direct access north and south via the Princes Highway, the M1 Princes Motorway and the Northern Motorway (Memorial Drive) to Wollongong CBD and beyond and to Sydney.

*Approximate