Dare Pays 31 Owners $130m for Waterfront Drummoyne Site

The owners of a waterfront apartment block in Sydney’s Inner West have united to sell the entire site.

Dare Property Group has acquired the Drummoyne site from its 31 strata owners for about $130 million.

The under‑utilised site at 72–76 St Georges Crescent spans 6859sq m and has 57m of water frontage and Parramatta River views.

The Drummoyne sale is one of the most significant collective strata transactions in Sydney’s residential market this year and comes as local planning changes have increased development potential in the Parramatta River precinct, lifting the site’s value.

The selling agents for the Drummoyne site were Stanton Hillier Parker’s Michael Stokes, Steven Kruyer and Guy Yarden.

Securing the Drummoyne block positions Dare to capitalise on ongoing demand for well‑designed, premium housing in sought‑after Sydney locations, reinforcing the developer’s niche in the luxury residential sector.

The developer’s recent activity includes high‑profile projects such as AMARA at Mosman, a harbourfront apartment project that was approved late last year.

Dare Property Group is a privately held Sydney developer founded and led by Danny Avidan, who began his career as a solicitor and then built and ran multiple successful Australian fashion brands before shifting into property development.

Dare’s portfolio includes completed and current projects across Sydney and Melbourne, from coastal apartments at Tamarama and Vaucluse to luxury residences at Point Piper and Fitzroy.

Under Avidan’s direction, Dare has delivered more than a billion dollars’ worth of premium residential projects.