DA-approved riverfront development site in Port Macquarie hits the market

Newcastle, Australia – A prominent riverfront development opportunity with development approval for a 16-apartment project with a large Specialist Disability Accommodation (SDA) component in the heart of Port Macquarie is up for sale.

The property at 14-16 Park Street, a 1,137sqm corner site with dual frontage to Park Street and Buller Street, offers developers and investors the chance to capitalise on growing demand for both specialist disability accommodation and residential apartments in one of regional NSW's most sought-after coastal markets.

The site, which is currently occupied by three existing dwellings with approval for demolition, benefits from an existing development approval for Hastings Residences, a five-level residential project comprising 16 apartments.

The approved scheme includes 10 Specialist Disability Accommodation (SDA) apartments, one onsite overnight assistance apartment, three two-bedroom build-to-sell apartments and two premium three-bedroom full-floor residences with northerly views towards the Hastings River and marina precinct. The development approval provides for approximately 1,860sqm of gross floor area and 15 
car spaces.

It is being taken to the market via an Expressions of Interest campaign run by Knight Frank agents Brent Sinclair and Sasha Galli.

Mr Sinclair said the opportunity would appeal to a broad range of developers seeking a project with planning certainty in one of the Mid North Coast's strongest residential markets.

"The property's existing development approval significantly reduces the time, cost and risk typically associated with securing planning outcomes, allowing purchasers to focus on delivery and feasibility rather than navigating the approval process," Mr Sinclair said.

"What makes this opportunity particularly compelling is the approved blend of SDA and build-to-sell apartments. The SDA component provides exposure to a specialised, funding-backed accommodation sector, while the residential apartments are positioned to capture demand from owner-occupiers and downsizers drawn to Port Macquarie's lifestyle offering.

He said the site's rare R4 High Density Residential zoning, combined with its riverfront outlook and central location, made it one of the region's most attractive development opportunities currently on the market.

“While there is an existing DA in place, this offering provides flexibility for developers, investors and owner-occupiers seeking to unlock the site’s future potential with multiple potential avenues for value creation.

“Buyers can pursue the existing SDA-approved development scheme, reconfigure the site to an alternative residential outcome and capitalise on the property’s strategic corner position within one of Port Macquarie’s established coastal precincts.”

Ms Galli said the property's location was a major drawcard, situated within walking distance of the Hastings River foreshore, town centre and marina and close to key health infrastructure including the Port Macquarie Base Hospital.

"Port Macquarie continues to attract strong population growth and investment, underpinned by its lifestyle appeal and role as one of the principal regional centres on the Mid North Coast, " she said. 

"The approved scheme has been thoughtfully designed to maximise the site's northern orientation towards the Hastings River, while the dual street frontage provides excellent access and flexibility in the delivery of the project.

"The combination of planning approval, a strategic corner position and exposure to both the SDA and residential apartment sectors is expected to attract strong interest from local, Sydney-based and interstate developers."

The Expressions of Interest campaign for 14-16 Park Street, Port Macquarie will close at 3pm (AEDT) on Tuesday, November 17 November.

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For further information, please contact:
Vanessa De Groot – Marketing & Communications, Knight Frank
Vanessa.degroot@au.knightfrank.com +61 410 460211

Notes to Editors
Knight Frank LLP is the leading independent global property consultancy. Headquartered in London, the Knight Frank network has 600+ offices across more than 50 territories and more than 20,000 people. The Group advises clients ranging from individual owners and buyers to major developers, investors, and corporate tenants. For further information about the Firm, please visit www.knightfrank.com.