A combined residential site on Cowles Road in Mosman has been listed for approximately $40 million, becoming the latest large-scale amalgamation influenced by recent state planning reforms.
LMR Policy Sparks Redevelopment Surge
A large-scale property listing on Cowles Road, Mosman, marks the sixth major amalgamation in the suburb since February. Nine adjacent homeowners from 92 to 108 Cowles Road have unified their properties into a 2,151-square-metre block. The move aligns with the NSW Government’s updated Low and Mid-Rise Housing Policy, designed to facilitate more diverse residential development in key areas.
These changes, introduced on 28 February 2025, permit higher-density projects within 800 metres of designated town centres and public transport. Cowles Road falls within this zone, making it eligible for the new development controls.
Photo Credit: Google Maps
Development Potential and Valuation
Selling agents JLL described the site as suitable for a six-storey residential project, with an estimated gross floor area of up to 4,732 square metres and a maximum allowable building height of 22 metres. Market expectations suggest the parcel could achieve as much as $43 million, depending on buyer interest and development conditions.
The proposal includes potential for harbour and city views from upper levels, subject to council approval. The current listing follows three other ongoing amalgamations in the same street: 65–77 Cowles Road (1,858 sqm), 74–78 Cowles Road with 17a–19 Wudgong Street (2,355 sqm), and 138–144 Cowles Road (1,664 sqm).
Strategic Policy Context
The NSW Government’s Low and Mid-Rise Housing Policy aims to deliver 112,000 new dwellings over five years across Greater Sydney, the Central Coast, Lower Hunter, Newcastle, and the Illawarra-Shoalhaven. Stage 2 of the policy expanded housing types allowed in mid-rise zones, including terraces, townhouses, and apartments.
Photo Credit: Google Maps
This policy sits under the broader State Environmental Planning Policy (Housing) 2021 framework and responds to the state’s ongoing housing supply targets.
Property Details and Ownership
The Cowles Road listing comprises eight semi-detached dwellings and one free-standing house, with individual lot sizes ranging between 205 and 491 square metres. Among the nine properties, 102 Cowles Road is owned by the Anglican Church, which bought it in 1986. The most recent transaction was for 92 Cowles Road, purchased in 2021 for $2.715 million.
Some homeowners who bought prior to 2010 may stand to gain significantly if the amalgamated site reaches the upper price estimate.
Photo Credit: Google Maps
Local Response and Implications
Mosman official Marie Kimber stated that Council has limited authority to oppose developments that meet the new planning criteria. She noted that the LMR reforms are expected to alter the character of Mosman and similar suburbs across Sydney.
With increasing demand for well-located housing and relaxed density controls, further amalgamations may continue to reshape the area’s residential landscape.
Published 11-May-2025