Oro Property Group

119 Whitebridge

Newcastle Development
NSW, Australia

Welcome to 119 Whitebridge—your gateway to a standout investment opportunity in the sought-after Lake Macquarie, Newcastle region. In New South Wales’ dynamic property market, Lake Macquarie ranks among the highest projected growth areas nationwide. Within this booming region lies a rare chance to invest in a premium property poised for strong returns. Perfectly positioned near the beach, central Newcastle, hospitals, and shopping precincts, the land offers prime access to essential lifestyle amenities. Nearby school zones and local services boost appeal for both families and professionals.

This two-stage development presents a low-risk, cost-effective strategy ideal for long-term developers or landholders. Due to zoning there are a number of opportunities available, including a 70+ apartment complex, co-op living, childcare centre, medical facilities, shop-top housing, along with many other uses. Forcasted returns are strong and will vary depending on the direction of the second stage.

For those eyeing transformative projects, there’s clear potential to build a 70+ apartment complex—meeting the growing demand for contemporary living in this thriving area. Forecasted returns are outstanding, with independent estimates suggesting profits may exceed $20 million.

  • Strategically situated in one of the highest growth areas of New South Wales, our investment opportunity boasts prime real estate 5 minutes from the beach and 15 minutes from the city of Newcastle. 

    Nestled within the Lake Macquarie council, represented by the following: 

    • $1.49 billion GRP growth since (2022 to 2023). 

    • $832,000 median house price (2023). 

    • $634.82 million in residential property development in 2023, up $3.87 from 2022 and continuing to rise. 

  • Peace combined with accessibility, have access to burgeoning commercial and residential sites and options for both family, leisure and work. 

    A strategically located investment opportunity. 

    • Accessibility to Sydney CBD via nearby freeways. 

    • Multiple nearby schooling zones. 

    • Established infrastructure, including professional and family facilities such as stores and restaurants. 

  • This coveted parcel of land not only presents a canvas for visionary investors but also offers a plethora of development possibilities. 

    • Mid-rise development opportunities, including apartments (complex). 

    • Staged development offering low risk minimal to zero debt coverage. 

    • Three years pre-site works completed already (de-risking), allowing for agile turnaround opportunities, including housing developments. 

Aerial view of a coastal town with numerous boats anchored in a harbor. The shoreline is lined with houses and a lush green landscape, with a body of water extending into the distance.

The Opportunity

The opportunity for investment is through a generous purchase of shares arrangement. This includes:

  • Purchase of shares within the site at $300,000 for 5% of share ownership.

  • The minimum purchase amount is 5%, the maximum is 15%.

  • Share ownership entitles the owner to 5% of the project profits, paid at completion, plus the initial $300,000 investment returned from the cost base.

Nestled in the natural beauty of the Lower Hunter region, Lake Macquarie is drawing strong interest from investors and homebuyers. With a population of 219,249, the area supports 73,233 jobs and generates $29.1 billion in annual economic output.

This vibrant city offers a unique mix of coastal lifestyle and close access to key urban centres. Its prime location makes it highly attractive for investment.

Located on the New South Wales east coast, Lake Macquarie has a vast population catchment—over six million people live within 150 kilometres.

Only an hour’s drive from Sydney, it offers easy access to major markets. The city also connects directly to key transport routes, enabling smooth flow of goods and people.

Lake Macquarie is further advantaged by its proximity to global gateways, with both Newcastle Airport and the Port of Newcastle nearby for international trade and travel.

Development Schedule

Current Stage: Stage 3

Oro Property Group

    • Site optioned in 2020.⁠

    • Option holder de-risked the site during the option period by engaging development manager (Urban Villager) to design a concept to deliver a preliminary feasibility undertaking a number of studies on the site feasibility. 

    • Concept was discussed at a pre-lodgement meeting at Council on 2 September 2021. It received positive feedback, along with an action plan of further reports to undertake. 

    • The studies and work undertaken included: Planning advice. 

    • Assessment of previous Development Applications, and why they were unsuccessful. 

    • Preliminary bushfire advice. 

    • Preliminary ecological advice, including BDAR and 12 months of reporting. 

    • With that information, Whitegum Hill Pty Ltd took over the option and purchased the site. 

    • 2022 Whitegum Hill worked with Urban Villager to continue the studies suggested by Council in the September 2021 pre-DA meeting. With the studies complete, Urban Villager was engaged by Whitegum Hill for further preliminary feasibility on the updated data. 

    • Whitegum Hill intends to complete the DA process. 

    • In late 2023, a new consultant team was introduced to take the site from concept through to development approval, using the concepts and work done by Urban Villager as a basis. That team remains. 

    • Architect Ewert Leaf has done thorough due diligence and a feasibility study to ensure that the optimal scheme is presented. 

    • Urban Planning Ratio has been working closely with Ewert Leaf to establish the optimal scheme for the site. 

    • Planning advice (Highest and Best Use, March 2023):Urban Villager met with Council to discuss the densification of the site from a strategic standpoint. Broadly, Council were in support of an apartment scheme in the E1 portion of the site, and shop-top housing in the R2 portion of the site. 

    • Council has indicated that it will support a flexible residential/commercial space with the portion of the E1 development facing the street on ground level being built to commercial standard, with a residential use. 

    • Target for DA to be lodged mid-May 2025. 

    • Build 6 townhouses in the R2 portion of the site. 

    • These will be for immediate on-market sale (target sale price: $950,000. The gross revenue of $5,700 will cover a substantial portion of the debt on the site (consisting of purchase price, consultant costs, and holding costs), leaving significant equity in the remaining portion of the site. 

    • The gross revenue of the site is expected to pay down either a substantial amount or the entire costs associated. This strategically ensures that the second block is owned outright.

    • Build the apartment complex with circa 76 apartments. Cost to build: $39,000,000. This includes: Site works, parking, landscaping (subject to geotechnical condition reports, excluding soft costs and council contributions). 

    • Gross revenue on apartments: Target sale price of $57,800,000. 

    • Gross profit margin (approx.): 31.5%. 

    • Gross profit (approx.): $18,000,000.

  • 119 Whitebridge Ground Floor

    119 Whitebridge: Ground Floor

  • Site layout plan showing apartments, townhouses, roads, and landscaped areas at 119 Bulls Garden Road, Whitebridge, NSW. Labels indicate apartment numbers and sizes.

    119 Whitebridge: First Floor

  • Architectural site plan of a residential development labeled 'Second Floor' at 119 Bulls Garden Road, Whitebridge, NSW. The layout includes apartment units, pathways, and landscaped areas with trees. Surrounding roads are labeled 'Lena Close,' 'Justine Avenue,' and 'Garden Road.'"}

    119 Whitebridge: Second Floor

  • 3D massing model depicting proposed developments at 119 Bulls Garden Road, Whitebridge, NSW, featuring 2-level SOHO and 3-level apartments, surrounded by trees and roadways.

    119 Whitebridge: 3D Massing

  • 3D massing model of proposed buildings at 119 Bulls Garden Road, Whitebridge, NSW. The model shows blocks representing proposed three-level apartments and a two-level SOHO, surrounded by trees and roads labeled "Bulls Garden Road" and "Bulerie Ave."

    119 Whitebridge: 3D Massing 2

  • 3D massing model of a proposed residential development at 119 Bulls Garden Road, Whitebridge, NSW, featuring planned buildings for three-level apartments and two-level SOHO units, set in a landscaped environment with roads labeled "LENA CL" and "SUSANNE AVE."

    119 Whitebridge: 3D Massing 3