Development Site

A development site is a parcel of vacant land or an existing property that has the potential to be developed, either through renovation, subdivision or new construction.

These sites can range from vacant lots in suburban areas to large industrial or commercial spaces in metropolitan zones. Strategic development site acquisition provides investors with the ability to create value by transforming vacant land or property for different uses. For example, a plot of land in a growing suburb could be developed into a block of apartments, or an outdated industrial facility could be converted into a mixed-use complex.

The number of clients looking to buy development sites has surged in recent years due to increased urbanisation, population growth and housing shortages in major Australian cities. Investors and developers are seizing opportunities to meet these growing needs by developing residential, commercial and industrial projects.

As cities expand, the demand for well-located development sites is only expected to grow, particularly with state governments likely to continue to push for higher-density developments to accommodate growing populations.

Rezoning will, in turn, open up new areas for development in Australia, creating a pipeline of prime sites ripe for investment. However, competition for prime locations and the increasing complexity of planning regulations means careful due diligence will be more important than ever for development site acquisition.

However, it’s important to consider the potential risks. Property development is often complex, and factors like project delays, planning approvals and cost overruns can impact your profitability. To mitigate these risks, investors need to conduct thorough due diligence and work with experienced professionals who understand the market and the development process.

Development sites offer significant upside potential for investors due to their flexibility and capacity for high returns. With proper planning, a single site can be transformed into a multi-unit residential building or a mixed-use property development, dramatically increasing value. Moreover, development sites also provide the flexibility to tailor projects based on current market needs, whether it’s residential, commercial, or industrial spaces.

However, it’s important to consider the potential risks. Property development is often complex, and factors like project delays, planning approvals and cost overruns can impact your profitability. To mitigate these risks, investors need to conduct thorough due diligence and work with experienced professionals, including a trusted development site buyer’s agent, who understand the market and the development process.

When you buy a development site, you should consider several factors that can directly impact the success of your project:

• Location : The value and future potential of a development site are largely determined by its location. Proximity to transport, schools, retail hubs and employment centres can significantly affect the demand for residential or commercial spaces once your project is complete.
• Zoning : Ensuring the site is correctly zoned for your intended development is critical. Different zones (e.g. residential, commercial, industrial) dictate what can be built on the land. A thorough understanding of local zoning laws will help avoid costly planning issues down the line.
• Planning restrictions : Each local council has its own set of planning regulations that can affect your development. These restrictions may include limits on building height, floor area ratios or even specific design guidelines. Checking the relevant planning schemes early in the process will help you understand what is possible on the site.
• Heritage restrictions : Some property development sites may be subject to heritage overlays, which impose strict limitations on what can be demolished or altered. It’s essential to confirm whether the site falls under such protection, as heritage restrictions can impact your development’s scope and costs.
• Infrastructure and services : Development sites require adequate access to essential infrastructure, such as roads, utilities and public transport. Assess whether the site has access to these services or if significant upgrades will be needed, as this can impact both cost and timelines.
• Environmental considerations : Some sites may have environmental constraints, such as flood zones or bushfire risks, which could influence both design and insurance costs. Conducting environmental assessments early in the process is essential for mitigating risks and managing costs.
• Vacancy rates and demand : Understanding the vacancy rates and demand for the type of property development you’re planning is crucial. If you’re looking to build commercial or residential units, research the local market to ensure there’s enough demand to support your project once completed.

A site’s true value goes well beyond its size or price tag, what matters is what you can actually do with it.

As a buyer’s agent for development sites, we assess:

By assessing all relevant factors and providing a thorough due diligence package, our team of development site buyers’ agents helps you avoid costly missteps and act with confidence on the right site.

• Zoning and allowable use : We review local planning instruments to determine what can legally be built on the site, and whether zoning flexibility could unlock additional value.
• Street frontage, access and subdivision options : The site’s shape, frontage and access points can affect construction, parking layout and whether the land can be subdivided in the future.
• Site gradient and topography : Steep or uneven sites often increase construction costs and may limit design options, while flatter lots typically offer more development flexibility.
• Heritage or environmental restrictions : Heritage overlays, bushfire zoning or flood risks can restrict what you’re allowed to build, and may trigger longer approval timeframes or higher costs.
• Infrastructure access and local council appetite : We consider whether the site is serviced by essential utilities, roads and transport, and evaluate how supportive the local council is towards future development.

When you buy a development site, its value often lies in the flexibility of what it could become. At Costi Cohen, we help investors align their acquisition with the site's most feasible and strategically valuable use, both now and in the long term.

We’ve helped clients secure sites suited for:

Our development site buyer’s agents match the site’s zoning and profile with your intended outcome, helping to structure the purchase around your development horizon.

• Multi-residential builds : Residential properties from boutique duplexes to townhouse clusters and low-rise apartment blocks, ideal for urban infill and growth corridor strategies.
• Build-to-rent projects : Purpose-built assets designed for long-term rental income in undersupplied rental markets.
• Boarding house or co-living developments : Higher-density, lower-footprint boarding houses that meet rising demand for affordable and flexible living.
• Childcare and education sites : Strategically located sites aligned with local demographic shifts and government funding support for childcare centres.
• Mixed-use projects : Integrated developments combining residential, retail and office spaces, often located in rezoning corridors or near future transport infrastructure.
• Specialised commercial assets : Commercial development including service stations, hotels and pubs, industrial warehouses, medical centres, aged care facilities and data centres, depending on zoning, infrastructure and location factors.
• Land banking : Acquiring sites in key rezoning corridors or transport-linked areas to hold and capitalise on future planning changes.

Many of the best development sites in Australia don’t make it to public listings. They’re traded quietly off-market, often between agents, vendors and experienced buyers who understand timing, discretion and deal structure. Costi Cohen is a buyer’s agent for development sites with access to a deep network of off-market opportunities across Australia. We help clients avoid competition and secure sites with better terms below market value.

Securing the right development site takes foresight, due diligence and sharp execution. That’s where we come in. At Costi Cohen, our team of dedicated development site buyer’s agents helps clients identify sites with potential and the right long-term fundamentals. We work with investors, developers and syndicates across sectors, including residential, retail, office and mixed-use, to source opportunities others miss. Connect with us to talk strategy.