Offering a great riverside position with a current income of $75,000 per annum and further development potential; this existing block of 6 units is a real treasure

l There are 5 x 2 bedroom apartments on one level and 1 x 3 bedroom town house over 2 levels

l All apartments are permanently let with a great rental return and relatively low outgoings

l The site offers 1,295 square metres of land on one title with full development approval for three luxury apartments in place

l The current D.A. approval has recently been extended out to 2014 so the holding income allows for a timely execution of the project in the right market conditions

l Significant dispensations have been achieved in the plans that may otherwise have not be achievable if they were newly submitted today

l Highly sought after position has very wide streetscape and is in close proximity to the river & parks.

l Located in a central high growth area with quality properties surrounding it is the perfect site for a quality project such as this

There are few large development sites remaining that are this close to the river. It really is a great opportunity to purchase this property with all the planning work done

The sustainability declaration for this property can be obtained by contacting the agent.