40 Abbotsford Rd homebush nsw 2140
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Boutique Waterfront Mixed-Use Development Opportunity
A rare opportunity to secure a DA-approved mixed-use development site positioned directly opposite the waterfront reserve and boat ramp in one of Lake Macquarie's most tightly held lifestyle locations.
The owners are currently seeking offers in the high $3 million range.
The approved scheme comprises 13 residential apartments, 1 retail tenancy, basement parking, lift access and a rooftop communal terrace, all designed to maximise the site's premium waterfront position and lake views.
Investment HighlightsDA-approved mixed-use development13 residential apartments plus 1 retail componentBasement parking and lift accessRooftop communal terraceDirectly opposite the waterfront reserve and boat rampEstimated GRV of approximately $27 million–$30 millionBoutique waterfront offering with limited competing stockStrong end-value evidence across the Lake Macquarie marketEstimated End Values
The estimated GRV of $27 million–$30 million has been derived from the approved mix, premium waterfront positioning and comparable sales evidence from both Wangi Wangi and the broader Lake Macquarie region.
Based on the available evidence, a conservative blended resale range across the 13 approved apartments could sit between approximately $1.8 million and $2.2 million per apartment, depending on size, aspect, floor level, view lines and final finishes.
This alone supports a residential GRV of approximately $23.4 million–$28.6 million, before allowing for the retail component or any premium achieved on the best-positioned residences.
Comparable Sales EvidenceWangi Wangi201/281 Watkins Road – 3 Bed, 2 Bath, 2 Car – Sold $1,730,000 (October 2024)5/281 Watkins Road – 2 Bed – Sold $1,008,000 (May 2024)202/281 Watkins Road – 3 Bed – Sold $1,200,000 (December 2021)Broader Lake Macquarie10/54–56 Brooks Parade, Belmont – 3 Bed, 2 Bath, 2 Car Waterfront – Sold $2,100,000 (March 2026)16/41 Walter Street, Belmont – 3 Bed, 2 Bath, 2 Car Waterfront – Sold $1,790,000 (July 2025)
Importantly, none of the above sales comprise dual-key product, nor are they newly completed developments. The approved scheme therefore offers a genuine point of difference that is expected to be well received by the market.
Why Wangi Wangi?
Buyers at this level are purchasing more than accommodation. They are buying waterfront lifestyle, boating access, lake views, scarcity and a premium living experience.
Demand for quality waterfront product remains strong, while the supply of new, high-end apartment stock within the locality remains extremely limited.
A rare opportunity to secure a DA-approved mixed-use development site positioned directly opposite the waterfront reserve and boat ramp in one of Lake Macquarie's most tightly held lifestyle locations.
The owners are currently seeking offers in the high $3 million range.
The approved scheme comprises 13 residential apartments, 1 retail tenancy, basement parking, lift access and a rooftop communal terrace, all designed to maximise the site's premium waterfront position and lake views.
Investment HighlightsDA-approved mixed-use development13 residential apartments plus 1 retail componentBasement parking and lift accessRooftop communal terraceDirectly opposite the waterfront reserve and boat rampEstimated GRV of approximately $27 million–$30 millionBoutique waterfront offering with limited competing stockStrong end-value evidence across the Lake Macquarie marketEstimated End Values
The estimated GRV of $27 million–$30 million has been derived from the approved mix, premium waterfront positioning and comparable sales evidence from both Wangi Wangi and the broader Lake Macquarie region.
Based on the available evidence, a conservative blended resale range across the 13 approved apartments could sit between approximately $1.8 million and $2.2 million per apartment, depending on size, aspect, floor level, view lines and final finishes.
This alone supports a residential GRV of approximately $23.4 million–$28.6 million, before allowing for the retail component or any premium achieved on the best-positioned residences.
Comparable Sales EvidenceWangi Wangi201/281 Watkins Road – 3 Bed, 2 Bath, 2 Car – Sold $1,730,000 (October 2024)5/281 Watkins Road – 2 Bed – Sold $1,008,000 (May 2024)202/281 Watkins Road – 3 Bed – Sold $1,200,000 (December 2021)Broader Lake Macquarie10/54–56 Brooks Parade, Belmont – 3 Bed, 2 Bath, 2 Car Waterfront – Sold $2,100,000 (March 2026)16/41 Walter Street, Belmont – 3 Bed, 2 Bath, 2 Car Waterfront – Sold $1,790,000 (July 2025)
Importantly, none of the above sales comprise dual-key product, nor are they newly completed developments. The approved scheme therefore offers a genuine point of difference that is expected to be well received by the market.
Why Wangi Wangi?
Buyers at this level are purchasing more than accommodation. They are buying waterfront lifestyle, boating access, lake views, scarcity and a premium living experience.
Demand for quality waterfront product remains strong, while the supply of new, high-end apartment stock within the locality remains extremely limited.
