9 River Rd, Gobbagombalin has a price guide of $39m-$42m.
Leading eastern suburbs agent Alex Lyons has a “once-in-a-lifetime” $40m listing … in Wagga Wagga, 455km south-west of Sydney.
There’s no disguising the Sydney prestige property market has the post-Budget blues, but when the going gets tough, the tough get going.
“This is the most exciting listing I have at the moment,” Lyons laughs.
The 74ha property, on two parcels at 9 River Rd, Gobbagomblin, 5.6km from Wagga, is understood to be one of the largest rezoned residential land holdings to come to market in regional NSW in recent years.
The Wagga-born Raine and Horne Double Bay legend has teamed up with local agent Lachlan Day and the Macarthur Real Estate principal Mark Macarthur to help sell the Day family’s former farm.
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It’s the Day family’s former farm.
This old homestead is one of four dwellings on the 74ha property.
The guide is $39m-$42m.
Records show it’s in the name of Paper Pear art gallery owner Stephanie Day, Lachlan’s mum.
The property, which comes with four dwellings including an old homestead, has been rezoned for residential and is set to be carved up into between 300 and 500 residential lots — a property developer’s bonanza.
The REA ad says it carries an Urban Release Area designation, placing it within the city’s committed long-term growth corridor.
“With rezoning complete, an incoming owner can proceed directly to subdivision planning and infrastructure delivery,” the ad reads.
“Due diligence indicates a yield potential of 300 to 500 residential lots, with an optimal range of 400 to 440 lots, supporting a master-planned community outcome of genuine scale.”
About 40 hectares sits above the flood line and is available for residential development.
The remaining 32 hectares is floodplain, providing substantial open space and amenity.
It’s set to be carved up for between 300 and 500 residential lots.
It’s located right on the edge of Wagga Wagga suburbia.
“The land itself is among the most desirable in the Wagga Wagga growth corridor,” the ad reads.
“Gently elevated with a gradual slope, it offers natural drainage, ease of civil construction, and the ability to create streets and allotments with outlook and amenity that flat land simply cannot deliver.
“Panoramic views extend across the Murrumbidgee River valley and surrounding landscape, providing a point of distinction that will support premium lot pricing at the sales stage.”
The ad says that Wagga Wagga’s residential land market continues to strengthen.
The median finished lot price reached $315,000 in 2024/25, up 6.78 per cent year on year.
Wagga Wagga’s population is expected to grow from 70,700 today to over 82,000 by 2046.
Already, $70.8m has been committed for infrastructure investment in the Northern Growth Area.
The property is offered for sale by Expression of Interest closing on June 25.
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