This development site is an exciting opportunity for an astute developer who is looking for a desirable development which will be sort out by the end user for locality, lifestyle and accessibility.

There are outstanding views of Narrabeen Lake, Collaroy, Narrabeen beaches and spectacular Long Reef headland.

The site is 1308.9 m2 in area. The LEP D3 allows a minimum of 11 meters in height or 3 stories, 50% build area and 50% landscaping, equaling 654.45 m2 per floor level build area or a total area of 1963.35 m2″.

Allowing common areas we believe the site to allow 20-21 apartments at a unit ratio of 85m2

As per the LEP, with reduced setbacks being a corner block, the per floor area can be bumped up to just over 700m2.

The site is currently a working nursing home the rental income is $12,393.00gst inclusive per calendar month.

The leasee currently handles any maintenance for the current building inclusive of structural maintenance.

Sale Terms: Straight sale of exchange and settlement in 6 weeks.

Contact
Gordon Spring 0418 210 219 / gspring.collaroy@ljh.com.au