Developers push price of old shack to mid $7 millions in Ingleside
AN OLD house on a massive level block is being fought over by developers in the latest northern beaches’ suburb to see rezoing. Two competing parties have pushed the price to mid $7 millions already.
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TWO developers are competing for a large site in Ingleside offering in the mid-$7 millions for the land as gazettal of the beefed-up suburb on the northern beaches edges nearer.
Duane Hunter, of Hunter Estate Agents, said there was strong interest in the mid-$7 millions for 212 Powderworks Rd.
The 9161sq m level block is near Wilga St, earmarked for medium density development and could accommodate around 22 dwellings.
Already developers have bought 6ha at 222 Powderworks Rd, overseas developers have bought acreage in Chiltern Rd for $4.5 million and Mirvac has optioned 10ha in South Ingleside worth about $25 million.
The Wilga/Wilson area of South Ingleside is expected to be the first area to be released for housing by the State Government.
The Manly Daily reported last month on the major housing release planned for the Warringah suburb of Ingleside.
About 2500 new homes, two new public schools, shops, upgraded roads and a new community centre are proposed for the area on the other side of the ridge to Warriewood Valley.
Pittwater Council planning and assessment manager Andrew Piggott said those areas in the Ingleside draft structure plan earmarked medium density would be zoned around 25 dwellings per hectare.
That works out to be one home per 400sq m. Low density areas would be permitted 15 dwellings per hectare, or one home per 666sq m.
Density levels for rural lots were still under discussion, he said.
The State Government has been considering Ingleside for rezoning for years but the process is now moving towards gazettal. Earlier this month consultants on behalf of the NSW Department of Planning and Environment were core drilling in North Ingleside.
Mr Piggott said the drilling was to examine soil types and water absorption, especially in the areas marked rural lots, to look at on-site sewage dispersion options. It is anticipated that medium density areas will have mains drainage.
Shayne Hutton, of Sydney Country Living, said buyers were still looking at North Ingleside for lifestyle acreages, believing any housing release would be years away.
“They are looking for the acreage lifestyle now and having development potential down the track,” Mr Hutton said.
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