Saturday, 21 October 2017

Property Advert of the Week: 57 Gerrale Street, Cronulla (1968)

In 1968, $11990 bought you an apartment across the road from Cronulla Beach with ocean views. 

Cronulla units June 22 1968 daily telegraph 42


Source: Palnor. 1968. "Ocean Front Units Cronulla" (Advertisement). The Daily Telegraph, June 22, 42.

Recently, unit owners in the complex along with those at 49-51 Gerrale Street managed to combine together to sell their apartments for an average of $1.7million to real estate developers. Brilliant return if you had bought off the plan. 

Under current planning guidelines, Sutherland Council would allow a building of up to nine levels on the site, which is generally the maximum allowed in central Cronulla. However, council may change this given its willingness to consider buildings in excess of that height within Cronulla like a proposal for a 21 level hotel on the Kingsway.