A group of 19 property-owners in Arncliffe are banding together to sell their homes as a mega-block to interested developers.
The move follows the recent rezoning of the Bayside West Precinct.
The properties are bordered by Flora Street, West Botany Street and Valda Avenue, Arncliffe.
Of the 25 properties in the block, 19 have come onboard, hired a lawyer, signed a joint selling agreement and are now ready to court developers.
Spokesman for the residents, Ashley Howell, who lives in Flora Street, said the block could potentially house 250 units.
“The properties are back-to-back and make up a 9760 square-metre block.” Mr Howell said.
“We have been in discussions for about 12 to 18 months. As soon as the Bayside West Precinct was proposed about two years ago we decided to prepare.
“We got a lawyer and we put together a joint selling agreement for everyone to sign saying we agree to sell as up of a collective group.
“We formed a sub-committee of five of the property-owners to handle the administrative aspects to make the the process more manageable before taking it to the others owners for decisions.
“Now that the rezoning is in place we are ready to market the block to developers. But we are not in a hurry.
“It is very rare to get so many owners working together in a united group to sell their properties.
“I don’t think I have seen this number of property owners getting together before.”
Mr Howell said the group is open to selling it as a single block or carving it up and selling it as a couple of blocks.
“It has a 26.5 metre maximum height, a Floor Space Ratio of 2.2:1 and an R4 High Density Residential Zoning,” he said.
“A developer could build 250 units on a block this size.
“I think it is really a unique site. It is handy to the airport, six-minutes walk to Wolli Creek Station and close to Arncliffe Station. It will also be close to the Cook Cove development which will eventually see 5000 units built on the Kogarah Golf Course.”
Mr Howell said that Flora Street and Valda Avenue includes many older couples who have lived there for years but they are motivated to sell.
“Everybody realises we have got high-rise going up about us and they don’t want to be stuck in the middle of it,” he said. “They want to move on.”
For details of the sale click here