A huge parcel of land on the border of Beacon Hill and Brookvale, measuring some 9.78 hectares, has sold to a mystery buyer for just a surprisingly ‘affordable’ $2 million.
The large natural site, Lot 8, Beacon Hill Road, Beacon Hill sold at auction on 17 December and has piqued local interest, as well as concern as to how the bushland will be used.
The property was originally owned by the NSW Aboriginal Land Council and 9.33 hectares of the area is zoned C2 for conservation. Only the remaining 4,465 sqm is zoned R2 for low density residential development. This is the section facing Warringah Road.
The Selling Agent from Next Property Partners Charles Gonzalez told Manly Observer that the entire parcel sold for just $2.325m.
“There were originally over 60 inquiries, but many potential buyers were scared off by the joint zoning”, said agent Charles Gonzalez. “That said, we were still happy that 17 contracts were handed out and there were 7 registered bidders at the auction – 4 in person and 3 online.”
When Manly Observer’s editor called Mr Gonzalez to double check the price of the land, he explained the current zoning would only permit one dwelling on the site, and there were concerns over other future restrictions.
The pre-auction spiel on the Next Property Partners website asked: “Where in the middle of the Northern Beaches are you able to secure your own nature park?” The website then promised you could “Build your dream home or clubhouse (subject to Council approval) and have the largest recreational backyard on the Northern Beaches.”
The buyer sought, and received, confirmation from the Land & Environment Council, that the previous sub-division into those two zones remained. The assumption is that the buyer will aim to develop the R2 section of the site and may try to get this zone sub-divided again, given that the allowable size of lots under this zoning can be 600 sqm. However, a knowledgeable source said that Council will likely have a problem with any further sub-division given conservation and bushfire safety concerns.
If the buyer is happy to come forward, Manly Observer would be keen to hear from you and ask what your plans are for this piece of land. Feel free to contact us any time.
