This $420,000 Sydney road could be the key to your dream home, but there's a huge twist you need to see!
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The Australian housing market is no stranger to peculiar listings. Still, a recent offering in Sydney's south-west has raised eyebrows and sparked conversations among prospective buyers and curious onlookers alike. Imagine owning a slice of Sydney real estate for $420,000 – sounds like a dream, right? Before you start envisioning your future abode, there's a significant twist to this tale of property ownership.
The land in question is not your typical vacant lot ready for construction; it's a narrow, 7.5-metre-wide road serving as a thoroughfare for local traffic. Priced between $399,000 and $419,000, this 238sqm stretch of asphalt in Glenfield, located 43km from Sydney's bustling CBD, has been advertised as 'residential land' with the potential to become the site of a 'dream home'. However, the catch is as clear as day: the land must continue functioning as a roadway until a neighbouring two-acre block is developed into a community, complete with new access roads, rendering the current road obsolete.
The property listing includes a crucial note: there is a restriction mandating that the land be maintained as a 'right of carriageway' until the local council lifts this requirement. This can only occur once alternative through roads to the north are completed. In essence, the land is in limbo, awaiting the development of adjacent properties before it can transition from tarmac to a potential home site.
Despite this, the real estate agency Ray White has optimistically listed the road as a 'fantastic opportunity' for those looking to build their dream home. They highlight the desirable nature of the surrounding neighbourhood, with its proximity to schools, parks, shopping centres, and public transport. The listing also mentions that the adjoining properties have been developed, positioning this unique plot as the 'final remaining piece of the puzzle'.
However, the timeline for when this road can be transformed into a residential property is uncertain and out of the agents' control. An application for the subdivision of the land to the north is in the works, which, if approved and constructed, would allow for the necessary roads to be built. Until then, the plot remains a piece of tarmac, regularly used by locals and occasionally serving as an impromptu parking space.
The sale of this road has elicited mixed reactions, with one local expressing sadness over the state of Sydney's housing market, suggesting that this might be the only affordable option for some. It's a stark reminder of the challenges many Australians face in securing a home in today's market, where even a narrow strip of road comes with a hefty price tag.
For our members at the Seniors Discount Club, this story reminds us to always read the fine print and understand the full implications of any property purchase. While the dream of home ownership remains strong, it's essential to approach such unique opportunities with caution and due diligence.
We'd love to hear your thoughts on this unusual property listing. Have you ever encountered a real estate offering with such a surprising twist? Share your experiences and insights in the comments below, and let's discuss the ever-evolving landscape of the Australian housing market.
The land in question is not your typical vacant lot ready for construction; it's a narrow, 7.5-metre-wide road serving as a thoroughfare for local traffic. Priced between $399,000 and $419,000, this 238sqm stretch of asphalt in Glenfield, located 43km from Sydney's bustling CBD, has been advertised as 'residential land' with the potential to become the site of a 'dream home'. However, the catch is as clear as day: the land must continue functioning as a roadway until a neighbouring two-acre block is developed into a community, complete with new access roads, rendering the current road obsolete.
A 238 sqm road in Sydney's South West is listed for sale as potential residential land, priced at $399,000–$419,000. Credit: sencd / iStock
The property listing includes a crucial note: there is a restriction mandating that the land be maintained as a 'right of carriageway' until the local council lifts this requirement. This can only occur once alternative through roads to the north are completed. In essence, the land is in limbo, awaiting the development of adjacent properties before it can transition from tarmac to a potential home site.
Despite this, the real estate agency Ray White has optimistically listed the road as a 'fantastic opportunity' for those looking to build their dream home. They highlight the desirable nature of the surrounding neighbourhood, with its proximity to schools, parks, shopping centres, and public transport. The listing also mentions that the adjoining properties have been developed, positioning this unique plot as the 'final remaining piece of the puzzle'.
However, the timeline for when this road can be transformed into a residential property is uncertain and out of the agents' control. An application for the subdivision of the land to the north is in the works, which, if approved and constructed, would allow for the necessary roads to be built. Until then, the plot remains a piece of tarmac, regularly used by locals and occasionally serving as an impromptu parking space.
The sale of this road has elicited mixed reactions, with one local expressing sadness over the state of Sydney's housing market, suggesting that this might be the only affordable option for some. It's a stark reminder of the challenges many Australians face in securing a home in today's market, where even a narrow strip of road comes with a hefty price tag.
For our members at the Seniors Discount Club, this story reminds us to always read the fine print and understand the full implications of any property purchase. While the dream of home ownership remains strong, it's essential to approach such unique opportunities with caution and due diligence.
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