A vacant plot of land in Sydney's prestigious Balmain suburb has hit the market with an eye-watering price tag of £3.5 million, offering developers and homebuilders a golden opportunity in one of the city's most coveted locations.
Prime Location with Stunning Potential
The 278-square-metre block at 1 Reynolds Street presents a blank canvas for potential buyers, situated just moments from Balmain's vibrant cafe scene, boutique shopping, and ferry wharf with direct access to Sydney's CBD.
Local agents describe the property as "a rare find" in an area where vacant land seldom becomes available. "Balmain's popularity means most properties get snapped up quickly," explains selling agent Michael Lowdon. "This is a genuine chance to create something special in one of Sydney's most desirable suburbs."
Development Opportunities Abound
The level block comes with approved plans for a contemporary four-bedroom home, though buyers could alternatively pursue their own architectural vision subject to council approval. Zoning regulations permit either a single dwelling or a dual occupancy development.
- 278 square metres of prime real estate
- Approved plans for four-bedroom home
- Potential for dual occupancy development
- Minutes from Balmain's amenities and transport
Balmain's Property Market Heats Up
The listing comes as Balmain experiences strong demand from both downsizers and young families drawn to its village atmosphere combined with city proximity. Median house prices in the area have risen steadily, with premium properties regularly fetching over £2 million.
"This vacant block offers something increasingly rare in Sydney - the chance to build exactly what you want in an established, high-demand location," adds Lowdon. "We expect significant interest from both developers and private buyers looking to create their dream home."
The property goes to auction on September 28th, with pre-auction offers being considered.
