VACANT BLOCK. FREEHOLD LAND. APPROX 617 SQ METRES.
CONDITIONS OF AUCTION Includes subject to reserve price 10% deposit on signing contract immediately following the individual auctions. All bidders must be registered. Registration can be completed at out office prior to auction or on the sites from 8am on the day of auction. RESTRICTION AS TO USER. THE LAND THE SUBJECT OF THIS RESTRICTION ON THE USE OF LAND AND ANY IMPROVEMENTS LOCATED THEREON SHALL NOT BE USED BY ANY PERSON AS RENTAL ACCOMODATION AND WILL NOT BE THE SUBJECT OF A LEASE OR LICENSE TO ANY PERSON, COMPANY NOR TRUST. IN THE EVENT THE LAND IS ACQUIRED BY A COMPANY IN ITS OWN RIGHT OR AS A TRUSTEE OF A TRUST, ONLY THE DIRECTORS OF THE COMPANY OR ITS PRINCIPAL SHAREHOLDERS SHALL BE PERMITTED TO RESIDE ON THE LAND. A PRINCIPAL SHAREHOLDER MEANS A SHAREHOLDER HOLDING AT LEAST 40% OF THE ISSUED VOTING SHARES OF THE COMPANY. THE ENTITY THAT CAN RELEASE VARY OR MODIFY THE RESTRICTION IS THE NEW SOUTH WALES LAND AND HOUSING CORPORATION, HOWEVER, THIS RESTRICTION SHALL AUTOMATICALLY EXPIRE IN SEVEN YEARS FROM THE DATE OF REGISTRATION AND NO LONGER APPLY.