Omada Property Group sourced and negotiated a call option over a prime site in the Kogarah North precinct. The site and precinct was subject of a draft rezoning plan by Kogarah Council to rezone the land from R2 low density to R4 high density, 32m height limit and 4:1 FSR. Our ability to identify new market opportunities allowed us to get in early to negotiate and secure a call option over the site. 

Concept plans were prepared by Omada for 42 apartments over ten levels and basement carparking. The Call Option was successfully on-sold upon gazettal of the new LEP at a time when the residential development market was at its peak in Sydney. A significant profit of 185% was made on the sale of the Call option.