Inner-west landowners holding out for massive payday

The resident of a modest brick bungalow in Sydney’s inner-west is refusing to sell to developers despite staring down the prospect of being sandwiched between two mega-residential projects.

The resident of a modest brick bungalow in Sydney’s inner-west is refusing to sell to developers despite staring down the prospect of being sandwiched between two mega-residential projects.

The defiant owner has refused to sell to Sydney developer, Ecove, on three separate occasions between 2020 and 2024 according to submissions lodged with NSW planning.

Now with the Rhodes site set to be amalgamated and the owner of 31 Blaxland Rd left out in the cold, law firm Holding Redlich and Haskew de Chalain (HDC) planning consultants, acting on their behalf, are seeking to stymie the project.

The defiant owner has refused to sell to Sydney developer Ecove on three separate occasions between 2020 and 2024. Picture: Jonathan Ng

HDC senior partner, David Haskew in an objection submitted to NSW planning suggested that, “the subject site will become isolated in circumstances where a fair market offer has not been made”.

“It is fair to say that the applicant’s offer to purchase was at a value of around one third of what would be calculated if the value is derived from the development potential,” he said.

According to CoreLogic data, Ecove Group has already laid out almost $70m for the surrounding land earmarked for development.

While the offers made by Ecove have been redacted from submissions and both the owners and Holding Redlich failed to respond to requests for comment, a neighbouring property of similar size was paid out $4.2m.

A separate objection letter lodged by legal representatives, on behalf of the owners, refuted the developers’ claim that the owners were expecting an unreasonable payout.

“It remains the case that our client is willing to sell at a reasonable price,” it read.

“It is clear that in real terms, failure to amalgamate could result in a brick residential house remaining on a prominent street between two large towers.”

The 400sqm bungalow is set to be lodged between two mammoth developments, one by Ecove which is set to deliver two high rise towers sitting at 22 and 26 storeys respectively, and a Meriton project delivering another two towers at 10 and 27 storeys each.

The owner of 31 Blaxland Rd would be sandwiched between the Ecove development and a $137m Meriton project set to deliver 285 apartments. Picture: Supplied

Ecove’s high rise development, currently being assessed under the NSW government’s state significant stream, also drew the ire of the City of Canada Bay.

The project set to deliver 285 apartments, an aged care home and a fire station, according to the council, would “significantly restrict the future development potential” of 31 Blaxland Rd, leaving it “sterilised”.

Despite the objections, the developer touted the project as an essential development for Sydney’s increasing elderly population.

The 440sqm plot was not included in the amalgamation of either development, with the owener claiming Ecove’s offer for the land was only a third of its true value.

“It will cater for the ageing population and provide capacity for existing residents in the Canada Bay LGA to age in place,” a planner for the project said.

“The number of residents aged 70-plus is projected to increase by approximately 102 per cent between 2024-2041.”

“It supports the State government’s strategic vision to deliver housing in places where people want to live.”

The development is the latest in a series of high density high rise developments currently being assessed by the council in its effort to build 5000 new homes by 2029.

A 37 top-shop housing development and a 32 storey mixed use development already approved by the council are set to deliver 458 apartments.

Originally published as Inner-west landowners holding out for massive payday