POTENTIAL OCEANFRONT DEVELOPMENT SITE
‘Subject to Council Approval’
Cliff Oceanfront Position
Land Size 13.56 x 36.58 approx.
Land Area : 500 sqm approx.
Zoned : 2(b)Residential- Medium Density
Unit 1 – Leased $1,450 pw expired month to month tenancy.
Unit 2 – Leased $1,400 pw expires on 25/01/2012
Gross Rent $148,200 per annum approx.
A unique and rare opportunity for a developer / investor to acquire a fabulous duplex , each consisting of 4 bedrooms, study, 3 bathrooms and lockup garage.
This is a tremendous opportunity to redevelop this property into a Grand Mansion or 2 X 3 Storey Homes (STCA). This quality offering has the added potential for strong future capital growth and rising rental income returns.
The land is not subject to any development standards that fix minimum land dimensions for the erection of a dwelling home. The land is not within a heritage conservation area.