2 Martin Luther Place Allambie Heights NSW 2100

Colliers & ACSL Property are pleased to offer this senior living unit building and land development opportunity, located in the Sydney northern suburb of Allambie Heights to be sold with vacant possession.

The property is located at 2 Martin Luther Place, Allambie Heights represents a unique opportunity for a seniors living operator, developer or investor to secure a three level, 20 x one bedroom unit building (seniors living restricted), situated on a 10,760 m2 site within the popular northern suburbs of Sydney.

The property is improved with a circa 1960's-built apartment building comprising 20 x one bedroom units (c.55 sqm of internal area). Designed over part two and part three levels, on grade parking, with a vacant land component at the rear.

Located in the Sydney northern suburb of Allambie Heights, the property is conveniently located to take advantage of easy access to various amenity including Westfield Warringah Mall, The Northern Beaches Hospital, and Manly Beach, Warringah and Manly Golf Clubs.

Opportunities for the property include^:

• Demolish the existing apartments to create a Residential Land subdivision
• Retain and refurb the existing apartments for future Strata subdivision and sale of apartments
• Retain and refurb existing apartments for rental investment value
• Demolish existing apartments for new apartment development.

Highlights include:

• Land area of 10,760 sqm
• Existing improvements include 20 x one-bedroom units
• Zoned R2 Low Density Residential under Warringah LEP
• Broad range of uses - including rental retirement village, Seniors affordable accommodation, land subdivision, mental health accommodation, boarding house, place of worship.

For sale via an on-market Expression of Interest campaign, closing on Wednesday 27th of November at 4pm (AEDT) 2024.

*approx.
^STCA