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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
67 - 75 DAREEN STREET & 320 - 328 WARINGAH ROAD | INFORMATION MEMORANDUM
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
67 - 75 DAREEN STREET & 320 - 328 WARINGAH ROAD | INFORMATION MEMORANDUM
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
67 - 75 DAREEN STREET & 320 - 328 WARINGAH ROAD | INFORMATION MEMORANDUM
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
67 - 75 DAREEN STREET & 320 - 328 WARINGAH ROAD | INFORMATION MEMORANDUM
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
67 - 75 DAREEN STREET & 320 - 328 WARINGAH ROAD | INFORMATION MEMORANDUM
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
67 - 75 DAREEN STREET & 320 - 328 WARINGAH ROAD | INFORMATION MEMORANDUM
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
67 - 75 DAREEN STREET & 320 - 328 WARINGAH ROAD | INFORMATION MEMORANDUM
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
67 - 75 DAREEN STREET & 320 - 328 WARINGAH ROAD | INFORMATION MEMORANDUM
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
67 - 75 DAREEN STREET & 320 - 328 WARINGAH ROAD | INFORMATION MEMORANDUM
New Northern Beaches Hospital - Expected Completion Date 2018 - Approx. 1km from this site
67 - 75 DAREEN STREET & 320 - 328 WARINGAH ROAD | INFORMATION MEMORANDUM
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
67 - 75 DAREEN STREET & 320 - 328 WARINGAH ROAD | INFORMATION MEMORANDUM
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
67 - 75 DAREEN STREET & 320 - 328 WARINGAH ROAD | INFORMATION MEMORANDUM
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
67 - 75 DAREEN STREET & 320 - 328 WARINGAH ROAD | INFORMATION MEMORANDUM
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
67 - 75 DAREEN STREET & 320 - 328 WARINGAH ROAD | INFORMATION MEMORANDUM
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: ___________ __________________________________________________
___________ __________________________________________________
___________ __________________________________________________
___________ __________________________________________________
___________ __________________________________________________
___________ __________________________________________________
___________ __________________________________________________
67 - 75 DAREEN STREET & 320 - 328 WARINGAH ROAD | INFORMATION MEMORANDUM
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.
67 - 75 DAREEN STREET & 320 - 328 WARINGAH ROAD | INFORMATION MEMORANDUM
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.