Another major property amalgamation – worth a staggering $40 million – has hit the local market, making it the sixth “Mega Lot” to be listed in Mosman since February.

Nine homeowners at numbers 92, 94, 96, 98, 100, 102, 104, 106 and 108 Cowles Rd have joined forces to create a 2,151 sqm site, capitalising on the new Low and Mid-Rise Housing Policy (LMR).

Nine more properties on Cowles Rd in Mosman are now on the market.

This move could yield a massive payday, with one property developer telling Mosman Collective the block could achieve around $43 million “on a good day”.

Selling Agents JLL have released an Information Memorandum (IM) calling 92-108 Cowles Rd an “exceptional opportunity” for a six-storey boutique development.

“The site [is] strategically positioned to leverage the recently gazetted LMR reform, which has significantly enhanced density controls,” the JLL document says.

If sold, the massive 2,151sqm site could be worth up to $43 million.

“This reform now permits the development of a residential project offering the potential for up to 4,732 sqm (gross floor area) and a maximum height of 22 metres.

“Upon completion, the upper levels of the development have the potential to capture city skyline and harbour view corridors (STCA), further enhancing the property’s appeal and value proposition.”

This latest Expressions of Interest campaign is the fourth Cowles Rd amalgamation currently listed for sale.