Tony Abboud has brokered the $51 million off-market sale of a nine-house development site in Mosman after 12 months coordinating multiple owners and over 20 interested developers.
Tony Abboud knew from the outset that his biggest challenge wasn’t finding a buyer — it was keeping nine owners aligned through what would become a year-long negotiation.
The development site at 40–56 Ourimbah Road, Mosman, sold off-market for $51 million after attracting interest from over 20 developers. The winning party was a local developer with an established track record of projects under Mosman Council.
Coordinating nine owners through 12 months of negotiations
Tony’s first task was getting all nine property owners to understand not just the process, but the financial mechanics that would make the deal work for everyone.
“It was very important that the owners understood the process,” Tony said.
“Each of the nine owners all received the same information. There was no different information for different owners. It was important that they understood not only the process, but also the financial aspect for themselves and what it also meant for the developer.”
The strategy included structuring settlement timing to benefit both parties. Owners received a premium in exchange for waiting six to 12 months for payment, while the developer immediately submitted plans to fast-track the approval process upon exchange.
View-capture site with transport access
The 40–56 Ourimbah Road site offered Middle Harbour and city views alongside strong transport links to Mosman’s town centre. Those attributes positioned it competitively within the broader Lower North Shore development market, where view-capture sites command premium developer attention.
Developers and buyers consistently highlighted the views and accessibility during their assessments. The winning developer plans to construct 63 apartments across the site, comprising one, two and three-bedroom units with one or two car spaces each.
Navigating regulatory hurdles and owner expectations
The 12-month timeline wasn’t without tension. New council and state government regulations threatened to derail the deal at several points, and some owners grew frustrated with the extended process.
“There were times where there was a little bit of tension, but we fixed that through transparency and open communication and always coming up with solutions,” Tony said.
Once regulatory obstacles were cleared, Tony moved quickly to maintain momentum with owners who were eager to progress toward settlement.
Strong ongoing demand from unsuccessful developers
Of the 20-plus developers who showed interest during the campaign, many who missed out have asked Tony to source similar sites. That ongoing demand signals sustained appetite for development opportunities in the Mosman area.
Tony attributes the successful outcome to ensuring both vendors and developer achieved their objectives — a win-win structure that’s essential for complex multi-owner sites.
“The reason we managed to put this site together is because we made sure that both sides win and we made sure that both sides were equally communicated with,” he said.
“When you’re dealing with multiple owners, it gets very, very complicated.”
About the Agent
Tony Abboud has built 46 years of partnerships with developers, earning a reputation for outstanding results through competitive, disciplined negotiation and transparent client communication. His professional approach and guaranteed integrity have created sustained success across complex development transactions. Visit Tony’s website for more information or call Tony on 0418225435.