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NSW West Pennant Hills house known as Dunrath sells for $42 million

Discussion in 'Where to Buy' started by mja, 28th Jun, 2015.

  1. mja

    mja Well-Known Member

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  2. Pistonbroke

    Pistonbroke Well-Known Member

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    Feels high considering that it's only 5000m2 and still R2. Time will only tell what the new zoning will be (close to the new station).
     
  3. twobobsworth

    twobobsworth Well-Known Member

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    Always wondered who owned it, always had a Rolls or Bentley in the garage. Can't believe the price.
     
  4. JDP1

    JDP1 Well-Known Member

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  5. Simon L

    Simon L Investment Property Buyers Agent Business Member

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    Wow - I drive past this all the time and would have never thought anything of it as its on a very busy road. Always saw nice cars inside though

    Even with new zoning to allow for units, you'd never recoup recoup $42 mil
     
  6. Pistonbroke

    Pistonbroke Well-Known Member

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    You'd want to pull at least 100 sites out of it to make the unit development worthwhile. ​
     
  7. sash

    sash Well-Known Member

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    Ar$se whooping about to happen...if it is only 5000sqm.....a 100 units is $420k per unit plus say 200k to build each one...that is $620k......figures don't quite compute....after stamps...holding costs...etc...

     
  8. Pistonbroke

    Pistonbroke Well-Known Member

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    But they'll hit the market at $800+
     
  9. Be Developer

    Be Developer Property Developer Business Member

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    @sash

    it will be zetland, mascot style development..

    100 per tower X how ever many they can fit it.

    will go to Joint planning committee (NSW govt body) for approval as project will exceed council only approval threshold.

    for time being, you and i need to stick to what we know.. let big guys chase bigger project.... we only have 18-24 months before house of card comes down
    or let;s say "Ar$se whooping" in your words!!:):)
    :)
     
    Last edited: 30th Jun, 2015
  10. The_good_life

    The_good_life Active Member

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  11. sash

    sash Well-Known Member

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    You never know.....developers and some of the people/govt are corrupt....having said that due to the history of the house it is likely to have a conservation order.

    I wonder which dumb **** paid so much...why were thinking...maybe money is not object to that person could possibly be a very wealthy overseas buyer who he/she wants their privacy.

    I am seeing where it might be smarter to develop the DA potential now and sell to someone else now in Sydney. If you develop ...the landscape in the next 1-2 years might be very different in Sydney..even with a pre-approval the buyer might not be able to settle..

     
  12. mja

    mja Well-Known Member

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    It's heritage protected. This property can't be developed. Well, council likes to think so.
     

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  13. AndrewTDP

    AndrewTDP Urban Planning Consultant Business Member

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    It has a local listing only. And as far as I can see it's for the house not the grounds

    Could make an amazing main building for a high end retirement village.