What an opportunity in sought after Paddington and perfect as your first foray into development.

The site is a 529sqm DA approved dual lot subdivision consisting of
Lot 1 – 322sqm and
Lot 2 – 207sqm.

Lot 1 is a renovated 3 bedroom Queenslander cottage and has been raised and completely restored. You could easily further add value by filling in underneath with an additional living space as a slab is already present and its well above legal height. The approved 2 x carport can be added at a later date or immediately via an arrangement with the vendor. The Lot has been configured to maximise space with substation outdoor decking on the upper level yet still room for a small yard on the lower level.

Lot 2 is yet to be constructed and is currently vacant land of 207sqm.
DA approved plans are available to inspect and include a 4 bed, 2 bath, 2 carport home.
You could choose to build now or in the future when you are ready.

What is a Dual Lot Strata subdivision.
The site is currently DA approved as a Dual lot strata subdivision which is a simplified Strata title arrangement where there are only 2 dwellings. The main benefits are -
- No requirement for an election and No sinking fund.
- Each owner insures the structure on their own lot.
- There is no common property aside from the letter box.
- Finally, there are no requirements for two-lot schemes to have any audit of accounts.

In addition, once the second dwelling is constructed, you may be able to apply to council to split the 2 lots into a Torrens/Freehold title subdivision. Please seek you own advice on this.

There are plenty of ways to capitalise on this opportunity.

Walking distance to Latrobe Tce featuring easy transport to the city, Woolworths and renowned street dining and cafes.
In additional you can get pretty much anywhere in the city with easy access to all major roads only minutes away.

Call Daniel Goodwin 0412 656 600 to arrange an onsite meeting.