This article is from the Australian Property Journal archive
A LOCAL developer’s purchase of the former Narrabeen RSL for $15.4 million is expected to be a major kickstart in the future development of North Narrabeen.
The prime 1.884-hectare site at 116 Nareen Parade features a two-three-storey L-shaped building, plus three lawn bowling greens, 39 on-site car parking spaces and plenty of room for redevelopment.
“This sale underscores the ongoing demand for unique, large-scale sites in key coastal markets like Narrabeen and the strong interest we received reflects the confidence investors and developers have in the long-term growth prospects of this area,” said Grosmann, director of commercial sales at Savills Australia and New Zealand.
Established in 1947, the venue was put up for sale almost two-and-a-half years after it went into voluntary administration.
The former Narrabeen RSL Memorial & Recreation Club– the popular Northern Beaches live music venue affectionately known as “The Razza”– previously included key amenities such as a gaming machine room, multiple lounge areas, an auditorium, dining room, office spaces and function rooms.
The site’s expansive size and no heritage overlays, makes it well suited for redevelopment, alongside its C4 Environmental Living zoning and building height limit of 8.5 metres, or circa two storeys.
“This site represents a rare opportunity in the tightly held Northern Beaches market with the property’s substantial size and existing infrastructure making it a prime target for a developer with the vision to repurpose it for future use, while maintaining its strong local ties,” said Lower, national director of hotels at Savills.
Potential options for the site include healthcare facilities, childcare centres, aged care facilities, community amenities, and residential land subdivisions to cater to the affluent surrounding demographics and rising property prices.
