It will be amalgamated with 4-5 other properties to make a 2500sqm block.
A 2500sqm block with and FSR of 3:1 equates to roughly 90 units. In turn, market price today is about $150,000 a unit which means the site is worth $13,500,000. If split 5 ways thats $2,700,000. Not a bad return...