Local developer Mayrin Group has purchased an amalgamated site in Sydney’s North Shore for north of $35 million through Savills Australia.

The nine individual older style residences span an impressive 6,778sq m of site area and are located at 130-138 Archer Road and 10a, 12 and 14 Boundary Street in Roseville. The site has the potential to yield circa 6,100sq m of Gross Floor Area based on the existing Floor Space Ratio of 0.9:1 and maximum building height limit of 12 metres, situated just 600 metres from the affluent Chatswood Business District.

"This unique site, benefitting from two street frontages, will provide more than 40 prestigious townhouses to this tightly held spot adjoining Chatswood," said William Wu, the Director of Mayrin Group. "This rare, medium-density product will reshape and lead the local market which is dominated predominantly by apartments and houses."

Founded in 2001, Mayrin Group has more than 16 years’ exceptional experience in residential and retail developments. Since arriving in Sydney in 2014, Mayrin has been active in the marketplace, and currently has three projects running in Parramatta, Rouse Hill, and Olympic Park.

Mayrin now has a strong position in Sydney’s inner-ring housing market, thanks in part to the Roseville acquisition. With almost 1,000 residential units in its development pipeline, Mayrin's vision is to create vibrant and sustainable communities throughout Sydney.

One of the larger residences included within this collective Roseville sale was previously purchased for $2.11 million in September 2010. This residence subsequently sold for over $7 million, a 332 percent return in just seven years.

The site boasts an 80.63 metre street frontage along Archer Street and an impressive 87.3 metre frontage along Boundary Street and is just 400 metres from Roseville Railway Station, and 12km north-west of the Sydney CBD.

The residences were amalgamated and sold through Stuart Cox and Neil Cooke of Savills Residential Site Sales team who have transacted the strongest sales rate per square metre of proposed GFA achieved to date for a collective sale in Sydney and in the last three years have transacted more than $1.7 billion worth of residential development sites.

According to Stuart Cox, Director of Residential Site Sales at Savills, “Roseville is a hotly contested Lower North Shore suburb with very few opportunities to acquire a property of this unique size, yet we continue to see strong developer demand for a variety of sites across the North Shore and Northern District.

“This is one of the largest land holdings sold to date on the North Shore. The site is zoned R3 Medium Density Residential, which lends itself to a premium grade, low-rise residential flat building development or prestigious townhouse development. There are currently no premium townhouses for sale ‘off the plan’ in the whole suburb,” he said.

According to Neil Cooke, Director of Residential Site Sales at Savills, “Rarely has an opportunity come along which provides developers a blank canvas to create a project of distinction, capturing the strong residential market in such a unique location.”