Substantial DA approved development site hits the market

SYDNEY, 23 May 2023 – A rare opportunity to acquire a DA approved mixed-use development site of significant scale within the transforming Gosford City Centre has come to market.

JLL together with Highland Project Marketing have been exclusively appointed to sell Waterside at 50 - 70 Mann Street, Gosford, via an Expressions of Interest campaign.

Situated on an expansive 8,564 sqm land holding, with three prominent street frontages, Waterside presents the opportunity to develop a landmark waterfront development. 

The current DA approval allows for the development of three residential towers above a commercial podium, comprising of 500 residential apartments, an 80 room hotel, a tavern, and further retail amenity including a supermarket, cinema, restaurants and specialty stores which totals a significant 66,295.5sqm of Gross Floor Area (GFA). 

JLL’s Capital Markets Director, Harry Sullivan said, “On an irreplaceable freehold site, this will be one of the most significant and sought-after DA approved sites on the Central Coast. Waterside is the perfect opportunity to create a landmark destination to complement the gentrification of Gosford, and subsequently benefit from the long-term prospects of the precinct. 

“The premium waterfront position will provide future residents with exceptional uninterrupted view corridors out to Brisbane Waters, National Parks and the Gosford city skyline. The new supply of high-quality residential accommodation and retail amenity is set to significantly increase the functionality, appeal and value of Gosford,” said Mr Sullivan. 

Gosford has experienced tremendous population growth in the past 5 years, having increased by 39% since 2016, and is forecasted to grow by an additional 64% by 2036, according to ABS Census data. 

Project Sales Director at Highland Property, Clint Willoughby said, “Gosford is a thriving metropolitan CBD that has been earmarked as a key priority region within the Central Coast. Since 2021 we have experienced considerable demand for new residences in Gosford, with growing numbers of Sydney buyers entering the market.”

The listing comes amid several key developments that are underway within the city centre of Gosford that will change the fabric of the CBD and is further supported by significant Government spend. 

Mr Willoughby said, “With several key projects in Gosford currently underway, along with the opening of the NorthConnex, the City Centre of Gosford will be unrecognisable in three years. Providing high-quality residential master-planned developments, Gosford is now seen as part of Greater Sydney. Buyers are considering Gosford as a true competitor to Western Sydney, offering a cosmopolitan CBD in a coastal lifestyle location. What’s more, the progressive Central Cost Council is championing change and growth, supporting significant health, education and infrastructure projects.”

Considered as the gateway between Sydney and Newcastle, Gosford has been earmarked as a key priority of the Central Coast Regional Plan 2036. This has led to the implementation of the Gosford City Centre Masterplan which provides a framework that leads the development and revitalisation of the Gosford City Centre. 

Two major Government supported projects include the NSW Government committing $348 million to the Gosford Hospital redevelopment and the formal and signed commitment by State and Federal government to construct the brand-new $58 million University of Newcastle Gosford Campus.

The Council have also recently proposed a $687 million plan to transform Gosford waterfront into an illustrious precinct has received immense positive community feedback to proceed with the project. Plans incorporate a new ferry terminal, marina, boutique waterfront hotel between Gosford Sailing Club, waterfront amphitheatre and Central Coast Stadium, and redevelopment of the Gosford Olympic Pool. 

Expressions of Interest for Waterside, 50-70 Mann Street, Gosford close at 4pm (AEST) on Wednesday 14 June 2023.