53 Magnus Street, Nelson Bay NSW 2315
Boutique Waterfront Development Opportunity
An opportunity to acquire a DA-approved boutique apartment development in one of Port Stephens' most tightly held lifestyle destinations.
The owners are currently seeking **offers in the high $3 million range**.
Unlike large-scale projects, this development comprises just **8 premium apartments**, all designed to capture water views. Importantly, **4 of the apartments are exclusive 3-bedroom whole-floor residences**, providing a level of luxury and exclusivity rarely seen in the Nelson Bay market.
Investment Highlights* DA-approved boutique development of 8 apartments* All apartments enjoy water views* 4 premium 3-bedroom whole-floor residences* Estimated GR of approximately **$15.5 million–$16.3 million*** 3 existing presales already secured* Genuine vendor motivation* Significant front-end costs already expended
Existing PresalesThe project already benefits from **3 presales**, demonstrating strong market acceptance. One of the 3-bedroom apartments sold for **$2,450,000**, with current market conditions suggesting similar product may now command pricing closer to **$3 million**.
Comparable Sales Evidence
**2 Bedroom Apartments*** 1/4 Laman Street – $1,480,000 (Jan 2022)* 3/12 Columbia Close – $1,345,000 (Oct 2025)* 307/5–7 Church Street – $1,250,000 (Apr 2026) **3 Bedroom Apartments*** 6/18 Kurrawa Close – $2,900,000 (Sep 2022)* 4/13 Laman Street – $2,800,000 (Jun 2024)* 9/10 Thurlow Avenue – $2,750,000 (Nov 2024)* 6/53 Magnus Street – $2,450,000 (Jul 2024)* 2/39 Victoria Parade – $2,430,000 (Oct 2022)
Why Nelson Bay?Buyers in this market are purchasing more than accommodation. They are buying lifestyle, marina access, holiday appeal, water views and scarcity. Demand for premium product remains strong, while the supply of genuine high-end stock remains limited.
Works CompletedSubstantial works have already been undertaken, reducing time and risk for an incoming purchaser, including:
* Approximately **$170,000 in council contributions paid*** Approximately **$300,000 in excavation, ground works and shoring*** Ausgrid electrical infrastructure works to relocate overhead power underground* Associated site preparation works to facilitate construction commencement
