- Currently home to council-run carparks, commercial buildings and a residential dwelling
- 6,726 square metre landholding on the market from Kiama Municipal Council
- An elevated mixed use site overlooking the harbour
A seaside sale for Sydneysiders sore city eyes, Savills is managing a unique landholding opportunity two hours south of the harbour city.
Kiama Municipal Council is selling a 6,726 square metre landholding, a stone’s throw away from tourist attractions such as Kiama Lighthouse and Blow Hole Point.
Bordered by Akuna, Shoalhaven, and Terralong Streets, the land parcel is zoned B2 Local Centre, including a height limit of 11 metres and an FSR of part 1.5 and part 2:1. The Council is currently preparing a town centre development control plan which will underpin future development of the landholding.
Offered on a freehold basis, the site has four separate titles and the existing retail building at 100 Terralong Street provides frontage on Kiama’s main retail strip. The site was originally acquired for the purpose of a second retail supermarket for the Kiama community.
According to a press release by the appointed agency Savills, the landholding is ripe for development:
“This truly is a once-in-a-lifetime opportunity to develop a landmark mixed-use project in this thriving coastal community strategically positioned just 35km from Wollongong and 120 km from Sydney,” said Johnathon Broome of Savills.
According to Mr Broome, existing planning controls accommodate a variety of residential and commercial uses while a site-specific DCP is on exhibition for an increase in height, with six storeys currently being proposed.
Savills also highlighted the pandemic trend of city dwellers looking for a sea change or tree change, the company robust demand resulted in a 50% increase in coastal land values since the beginning of the pandemic.
