How 12 Eastern Sydney Homes Became a $165m Supersite

A $165-million “rare supersite” has been listed in one of Sydney’s most tightly held suburbs—offering an early signal of how planning reform is reshaping the city’s east. The 6000sq m Rose Bay parcel brings together 12 homes with triple street frontage and scope for up to 140 apartments under the state’s Low and Midrise Housing Reforms. Known as Wilberforce and Dover, it’s the largest publicly offered development site in the eastern suburbs in years. The listing didn’t happen by chance. It was the result of a rapid and targeted campaign by agents Colliers and 1st City—who began doorknocking along Wilberforce Avenue just days after the policy was finalised in late February. “Rose Bay wasn’t identified as one of the precincts initially,” Colliers national director Guillaume Volz told The Urban Developer. “It came on very quickly after the announcement on February 28.” The suburb’s last-minute inclusion under Stage 2 of the reforms was a game-changer. Stage 1, rolled out in July of 2024, was limited to areas already zoned for higher density. But Stage 2 went further, extending medium-density development to lower-rise suburbs including Rose Bay, Double Bay, Mosman and Hunters Hill. It allows for terraces, townhouses and apartment buildings up to six storeys within 800m of designated centres and transport hubs, opening the door in areas long defined by detached homes, low turnover, and strict zoning controls. “Suddenly, the uplift was on paper,” Volz said. “That’s when owners could see the genuine value. That’s what made it worthwhile to consider selling their homes.” Colliers and 1st City moved quickly to explain the opportunity. “We started canvassing in February,” Volz said. “We approached one of the group on Wilberforce, and then the idea to come together as a supersite evolved from that.” Within weeks, 12 homeowners agreed to sell—many giving up homes they were, as Volz put it, “emotionally and financially comfortable in”. Delete The result is a rare east-side site with 96m of frontage to Dover Road, 53m to Wilberforce Avenue and 39m to Spencer Lane. “There’s always complexity in these kinds of deals, different motivations, different timelines but once the potential was clear, it was about getting the mechanics right,” Volz said. Brad Caldwell-Eyles, managing director of 1st City, said the site’s location and scale make it uniquely suited to the eastern suburbs market. “When it comes to the eastern suburbs’ premium market, the combination of views and village is a major drawcard,” he said. “Positioned just over 100m from the retail Rose Bay village precinct and enjoying a gentle rise above properties to the north and west—this site is ideally located to appeal to the target apartment market.” He said buyer demand is expected across a broad mix of unit types, from two and three-bedroom apartments to larger sub-penthouses and penthouses. “Pricing for such unit types might range from $3.5 million to over $15 million.” He also pointed to interest from investors drawn to the affordable housing incentives available under the new reforms. “The notion of affordable housing has evolved, and the community has a clearer understanding of the tenant profile enjoying its benefits that will include teachers, nurses and essential service workers,” he said. “Investors are drawn to being an ‘ethical landlord’ whilst also taking up the substantial pricing discount at purchase point from the market stock prices, knowing their investment will ‘kick’ upon the affordable covenant dissolution.” The campaign comes as NSW tries to unlock housing supply in suburbs well connected to jobs, transport and schools, without relying solely on CBD towers or greenfield sprawl.

How 12 Eastern Sydney Homes Became a $165m Supersite

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