Information Memorandum - Amazon Web Services · Information Memorandum Frenchs Forest 67 ... major Forest usiness Park as well as the new Hospital. ... Investigation Area

67 - 75 DAREEN STREET & 320 - 328 WARINGAH ROAD | INFORMATION MEMORANDUM

Information Memorandum

Frenchs Forest

67 - 75 Dareen Street

320 - 328 Warringah Road

Agent - Stuart Bath 0416 207 215


Memorandum Sections

1 Executive Summary

2 About the property

3 Northern Beaches Hospital Precinct & Structure Plan

4 Site & Property Details

5 Agent & Offer Details

INFORMATION


SALES

PROCESS 67-75 Dareen Street and 320-328 Warringah

Road, Frenchs Forest is being offered to

purchase via a public Expressions of Interest.

Closing Date Thursday 28th April, 2016

Or earlier by Agreement

All ‘Expressions of Interest’ are to be lodged in

writing to Skyline Real Estate, the exclusive selling

agents, using the EOI form provided in this

document.

An assessment of all expressions of interest

received will be made by the vendor and their

advisers leading to the selection of one

preferred party to enter into exclusive

negotiations and exchange of contracts.

The conduct of the sales process, the structure

and terms of the proposed sale, the evaluation

of proposals, and the continued participation of

interested parties in the sale process is entirely at

the discretion of the vendor and its advisers. The

vendor reserves the right to vary the sale

process at any time.

DUE

DILIGENCE Access to full due diligence material is available

upon request. Should you require an inspection

or have and queries, please do not hesitate to

contact:

Stuart Bath LREA JP

______________________________________________

Managing Director

T 02 9425 3444

M 0416207215

E [email protected]


Executive Summary

There are 13 properties being offered for sale in

one line creating a prime development site of

approximately 8,448sqm.

This site is within walking distance to City /

Chatswood / Manly Bus stops as well as the

Local Skyline Shopping Centre.

This site is located within 1km of the New

Northern Beaches Hospital which is scheduled

to be completed in late 2018.

The Precinct Structure Plan indicates that the

subject properties will likely be rezoned to

R3 - Medium Density or part B4 - Mixed Use.

The NSW Government has invested heavily in

this area with significantly improved road works

and public infrastructure. This ensures the long

term viability of the Frenchs Forest Area.

This site is in a prime location with two street

access, close proximity to all amenities as well

as the potential for Northerly Views from the

higher levels.

Property Features

This significant land holding features:

13 Properties, comprising a mix of one and

two level residential dwellings

Approximately 8,448sqm of land

Within 100m from local shops and transport

Within 1km of the New Hospital

Within 1.5km of local Primary & High

Schools

Within 5km of three Major Shopping

Centres

Approx. 6 - 10 Minutes drive to a number of

local Coastal Beaches

Approx. 20 - 30 Minutes to the City CBD

OVERVIEW


As part of the Northern Beaches Hospital Precinct Plan, both the NSW Government and Warringah Council have

indicated this land will most likely be rezoned at some point in the near future. The indications are that this site

could have a zoning of R3 - Medium Density as well as part of the site zoned to B4 - Mixed Use.

The proposed zoning allows greater flexibility with this site which is located in a prime residential area within

close proximity to all amenities. With the new major roadworks and infrastructure program underway, this prime

site is ideally located to take full advantage of the plans for the Forest area.

NSW Government figures indicate there are currently approx. 8,000 jobs in this area. The Government expect this

figure to grow to approx. 20,000 to 25,000 jobs once the Hospital and Local Business Parks are completed and

this includes approx. 5,000 jobs in the hospital alone. This growth will create strong demand for all types of

housing.

This prime site will allow greater diversity to create a premium style development. The close proximity to all

amenities will ensure strong demand from potential purchasers of all ages.

This site sits only meters from local Shops, Pre, Primary & High Schools; City, Chatswood & Manly bus stops, the

major Forest Business Park as well as the new Hospital. A short drive will take you to 3 major shopping centres,

Sydney CBD and local Coastal Beaches.

With two street access, a large frontage, Northerly Aspect and potential views, this is an excellent opportunity for

the astute investor.

ABOUT THE PROPERTY

67 - 75 Dareen Street & 320 - 328 Warringah Road


The Location Frenchs Forest is a centrally located suburb approximately 13kms north of Sydney CBD. It is predominantly

residential with three main business parks and industrial precincts, two major shopping centres, Pre Schools,

Primary and High Schools as well as a number of local shopping centres.

Frenchs Forest is currently in the Local Government Area of Warringah Council and is considered part of the

very popular Northern Beaches.

Frenchs Forest is very well placed for easy access to all areas of the Lower and Upper North Shore as well as

all Northern Beaches Suburbs. The Forest’ Area has access to many Government and Private Schools and is

well served with public transport.

The subject site is located approximately 1km East of the New Hospital and is within walking distance to many

local amenities including transport, schools, shops and recreational parks.

This area is prime for development with many new opportunities coming to the area as a result of the new

infrastructure and construction of the hospital.

LOCATION

Frenchs Forest - Northern Beaches

Subject

Site

Dee Why

beach

School &

Shops

New

Hospital

Site

Manly

beach

To City/

CBD


Northern Beaches Hospital Precinct Structure Plan

The NSW Government is planning to upgrade roads around the Northern Beaches Hospital with work proposed to be completed in time for the hospital opening in 2018. The upgrades would provide customers with a better travel experience, increased capacity on the road network and improved access through the area, including for pedestri-ans and cyclists.

Roads and Maritime Services is delivering the road upgrades in two stages:

Stage 1 Connectivity Work will provide essential access to the Northern Beaches Hospital

Stage 2 Network Enhancement Work would help increase the capacity of the road network and reduce congestion.

Roads and Maritime received planning approval on 29 June 2015 for the Concept Proposal and Stage 1 Connectivity Work in accordance with Part 5.1 of the Environmental Planning and Assessment Act 1979. Further information on the project’s approval is available on the NSW Department for Planning and Environment’s website at www.majorprojects.planning.nsw.gov.au/index.pl?action=view_job&job_id=6434

Following a competitive tendering process Roads and Maritime has contracted Ferrovial York Joint Venture to construct the road upgrades around the Northern Beaches Hospital.

Rezoning

The NSW Government in conjunction with the Local Warringah Council have identified the need for a higher density of housing in the areas surrounding the New Hospital. This subject site sits well within the initial structure plan and has been identified as being suitable for Medium to High Density zoning. It is anticipated that the subject site will be rezoned once the new Structure Planning Map for the area is released; which is expected to be around mid 2016.

PRECINCT STRUCTURE PLAN


Warringah Council

Hospital Precinct & Structure Plan

Investigation Area

This site clearly sits in the proposed precinct planning maps of Warringah Council and the

next page shows the NSW State Government proposed maps


Proposed Zoning Map

This Map shows

expected zoning to be

R3 Residential +

B4 Mixed Use

Proposed Height Map

This Map shows

expected heights at

12 - 13m


New Northern Beaches Hospital - Expected Completion Date 2018 - Approx. 1km from this site


Property Addresses

67, 69, 71, 73, 75 Dareen Street

320, 320a, 322, 322a, 324, 326, 326a, 328

Warringah Road

Total Land Area

8,448sqm/ 2.087 Acres / 0.84 Hectares (Approx.)

Site Description

Prime development site with 2 street access

within close proximity to all amenities.

Improvements

The current site has a mix of one and two storey

houses expected of an R2 zoning. One property

has a swimming pool.

Future Zoning

R3 - Medium Density Residential and potentially

B4 - Mixed Use Purposes

The current vendors will sell the subject

properties in one line conditional on all

properties being rezoned to either

R3 - Medium Density or B4 - Mixed Use or Both

Outgoings

TBA

Sale Process

The property is being offered via

Expressions of Interest.

PROPERTY

Details - Offering


SITE PARTICULARS

Site Area 8,448sqm*

Title Details 67 Dareen Street

69 Dareen Street

71 Dareen Street

73 Dareen Street

75 Dareen Street

320 Warringah Road

320a Warringah Road

322 Warringah Road

322a Warringah Road

324 Warringah Road

326 Warringah Road

326a Warringah Road

328 Warringah Road

Council Area Warringah Council

Zoning R3 - Medium Density

and B4 - Mixed use (Subject to Approvals)

FSR There is no floor to space ratio control for this

site at this stage

Height of Building 12 - 13 Metres (Subject to Approvals)

Site Descriptions

and Dimensions

The site is regular in shape with two street

frontages to Dareen Street, Warringah Road

and Frenchs Forest Road East

Aspect and

Frontage

North East (NE) over Dareen Street

South West (SW) over Warringah Road and

Frenchs Forest Road East

Topography

Heritage Item No

Existing

Improvements

13 Residential Homes of varying sizes

*Approximately

Property Information


Sales Process

Expression of Interest 67 - 75 Dareen Street and 320 - 328 Warringah Road, Frenchs Forest are offered in one line to the open market by way of Expression of Interest (EOI). Prospective purchasers are requested to submit their proposals in writing to the listed agent. The format of the EOI’s must contain the following information: Entity Details Interested party’s name, company name or entity and contact details Purchase Price The purchase price exclusive of GST Deposit Details of the proposed deposit amount Settlement Terms Details of the proposed settlement terms Conditions Any terms / conditions of the purchase in the forms of mark ups to the contract Financial Capacity Details of the party’s financial capacity to complete the transaction Track Record Details of prior purchases or developments and completion of such developments Advisors Details of any legal or other engaged advisors

Inspections The subject properties are available for inspection via appointment only. Interested parties are to contact the exclusive agent to arrange a suitable time and day for inspection.

Exclusive Agent

Stuart Bath _____________________________ M 0416 207 215 E [email protected] www.skylinerealestate.com.au 3/14 Frenchs Forest Road Frenchs Forest NSW 2086 Sydney, Australia

THE PROCESS


TERMS & CONDITIONS

Suggested Terms

Of Sale A Guide to Terms and Conditions of Sale

Minimum deposit required is equal to 1% of purchase price

Deposit paid annually for length of Option Agreement

Option period is 2 years with the option to extend for a maximum of 1 year

Irrespective of the Option time line or irrespective of the time the Option has been

held - Contracts must be exchanged within 60 days of any rezoning gazetted by

Warringah Council or the NSW State Government

10% deposit is required with exchange of contracts

The rezoning may allow for varying height levels and uses - this Option must take this

into consideration and purchase prices should vary according to the usage

granted for this parcel of land. Ie: We are of the belief the height level proposed

could be 12 to 13m. If the height level granted is higher than 12 - 13m then the

purchase price will be varied accordingly. The same applies for each and every

level above this minimum height of 12 - 13m.

Settlement is to take place within 6 months of the exchange date irrespective of

the time line of the Option Agreement


Expression Of Interest Form 67-75 Dareen Street and 320-328 Warringah Road, Frenchs Forest

To be lodged to Skyline Real Estate - 3/14 Frenchs Forest Road, French Forest, NSW 2087

Property: _____________________________________________________________

PURCHASER DETAILS:

Name: _____________________________________________________________

Company: _____________________________________________________________

ABN: _____________________________________________________________

Address: ____ _________________________________________________________

Phone: ___________ __________________________________________________

Mobile: ___________ __________________________________________________

Email: ___________ __________________________________________________

PROPOSED PURCHASE TERMS

Purchase Price: ___________ __________________________________________________

Deposit: ___________ __________________________________________________

Proposed Settlement: ___________ __________________________________________________

Terms: ___________ __________________________________________________

___________ __________________________________________________

___________ __________________________________________________

___________ __________________________________________________

___________ __________________________________________________

___________ __________________________________________________

___________ __________________________________________________


PURCHASER’S SOLICITOR:

Firm: _____________________________________________________________

Contact: ____ _________________________________________________________

Address: ___________ __________________________________________________

Phone: ___________ __________________________________________________

Email: ___________ __________________________________________________

Signature/s: ____ _________________________________________________________

Print Name/s: ___________ __________________________________________________

Company Position: ___________ __________________________________________________

Date: ___________ __________________________________________________

The Vendor specifically reserves the following rights:

1. To accept or reject any expression of interest in its absolute discretion including the highest expression of

interest made and without having to attribute reasons therefore or to be accountable in any way.

2. The owners may enter into a binding agreement before the scheduled Closing Date

2. The owners reserve the right to extend the closing date.

3. To discuss any matter and to deal with any parties submitting an expression of interest at any time before

or after the closing date.


IM

DISCLAIMER ____________________________________________________________________________________

This Information Memorandum has been prepared on behalf of Skyline Real Estate Pty Ltd (Skyline Real Estate)

This document does not constitute an offer or contract of sale or any part of an offer or contract of sale. It is intended

only as a guide and an aid to further investigation by potential purchasers / investors. Potential purchasers / investors

accept this document on the condition that they will make their own enquiries and obtain their own independent

advice in order to verify the accuracy of the information presented in the document. The content of this document has

been derived, in part, from sources other than Skyline Real Estate and may be based on assumptions. In passing this

information, Skyline Real Estate does not warrant that such information or assumptions are or will be accurate or

correct.

To the extent that this document includes any statement as to a further matter, that statement is provided as an

estimate and/or opinion based upon the information known to Skyline Real Estate at the date of preparing this

document and assumptions which may be incorrect. Skyline Real Estate does not warrant that such statements are or

will be accurate or correct.

Skyline Real Estate provides this document on the condition that, subject to any statutory limitation on its ability to do

so, Skyline Real Estate disclaims liability under any cause of action including negligence for any loss arising from reliance

upon this document.

This confidential document is for the sole use of persons directly provided with it by Skyline Real Estate and is not to be

resupplied to any other person without the prior written consent of Skyline Real Estate. Use by, or reliance upon this

document by any other person is not authorised by Skyline Real Estate and without limitation to the above disclaimers,

Skyline Real Estate is not liable for any loss arising from such unauthorised use or reliance.

GST DISCLAIMER

Skyline Real Estate advises that the financial information in this report, relating to income, outgoings and the like is

provided without reference to the possible impact of GST, if any. Purchasers should make their own assessment of the

impact of GST on the investments and the returns derived there from after obtaining expert professional advice.

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