Mosman and Manly: Development opportunities await in Australia’s affluent suburbs

Mosman village opportunity 100m from controversial supermarket

Set on an iconic corner block humming with foot traffic in one of Sydney’s most affluent harbourside suburbs, this Mosman village hub could soon add killer beach views to its list of attributes.

Oozing with darling vibes, the fully tenanted two-storey mixed-use development is set in the prestigious Mosman village and is being offered to the market for the first time in 33 years.

With a distinctive terracotta-tiled roof, it offers seven tenants – a diverse mix of retail, commercial and residential on staggered lease expiries – and six car spaces, all a short stroll from Mosman’s town centre.

The suburb, eight kilometres north-east of Sydney’s CBD, is known for its glistening water, beautiful beaches and lush greenery, peppered by stunning waterfront homes. 

The“ultra-rare parcel” at 713-715 Military Road sits on the prime corner of Military Road and Gouldsbury Street and presents various development avenues.

Zoned favourably for mixed-use development, the 587-square metre block, with potentially stunning views over Balmoral Beach, is positioned to capitalise on an 11-metre height limit.

There is an “insatiable demand for high-end boutique living and a chronic undersupply of premium residences” in the land-constrained area, according to Colliers, and it is surrounded by world-class medical and educational facilities.

The Mosman High School upgrade, completed in February 2024, has significantly enhanced the school’s facilities to provide students with state-of-the-art educational environments.

Colliers’ Tom Appleby declined to comment on the price guide, but a reliable market source has estimated its value to be at least $15 million.

“Premium investments with strong future development potential of this calibre very rarely come to market in Mosman,” Appleby said. 

“We’re fielding a significant amount of interest from developers, high-net-worth value-add investors and retail occupiers.”

It is located just 100 metres from the controversial and recently opened Woolworths Metro, which came up against significant community opposition prior to its 2023 opening.

The asset comes with a number of benefits, including large display windows and high-exposure street frontages of 16 metres and 35 metres. It houses four retail tenants: Bec + Bridge, Cole Studio Hair, Niche Cafe and Ogenki Mosman. 

Enticing shoppers with an outdoor dining area, it also boasts a cafe and restaurant tenant, along with two residential units and a commercial space on the first floor.

A three-bedroom home in Mosman commands a median price of $3.4 million.

The property is being sold via an expressions of interest campaign closing at 3pm on April 3.

Manly backpackers primed for luxury apartments 100m from beach

Will investors ride the wave to develop a Manly backpackers into luxury apartments?

Located less than 100 metres from Sydney’s famous Manly Beach, dubbed the best in Australia, Manly Boardrider Backpackers has an asking price above $13 million.

The 28-room hostel, sleeping up to 120 people, is being offered for the first time in 25 years with development approval to transform the 490-square-metre hostel at 63-67 The Corso, into 12 high-end residences, plus retail.

Manly, known for its laidback lifestyle and village charm, is widely considered one of Australia’s most prestigious suburbs.

The Boardrider Backpackers, built in 2001 and spanning four levels, boasts “stunning elevated views overlooking The Corso to Manly Beach” from its expansive rooftop terrace, according to listing agent Colliers.

It’s being offered as a going concern on a strata title that includes a cafe on the ground floor with a gross income of $1.25 million a year.

Colliers’ Tom Appleby said it was rare to get an opportunity of this size in the beachside suburb – aka the crown jewel of Sydney’s northern beaches – where the median house price is around $4 million.

“Value-add reposition opportunities of this scale very rarely become available in Manly,” he said. “The asset’s flexible fundamentals lend itself to a vast variety of potential future uses.”

If luxury apartments aren’t your thing, other redevelopment opportunities include a co-living or “super modern communal living space” in which bike racks trump car parks, Appleby said.

Alternatively, with a shortage of working space in Manly, which is just a 30-minute ferry ride from Sydney’s CBD, it could become premium offices or retail, or even be reworked into “flashpacker” accommodation or serviced apartments, subject to council approval.

Boardrider Backpackers, which offers affordable accommodation from $58 per night, “is the ideal place to stay if you want to surf”, it says, and is in the same building as some of the area’s most popular bars. It also sits next door to a Messina ice creamery.

“We are the closest hostel to the best beach in Australia,” its website reads.  

The Corso, built in 1855 and redeveloped in 2007, is Manly’s main pedestrian mall, connecting the ferry wharf to the beach, and is brimming with retail, restaurants, cafes and pubs, and is home to a weekend arts and craft market.

Manly Beach, known for promoting an active lifestyle, has been named by Tripadvisor as the best beach in Australia this year – its second win in a row.

Days in Manly can range from swimming to life-saving club activities, beach volleyball, snorkelling, scuba diving, hiking, and rock pool exploring.