This development site comprises of 2 blocks of land immediately behind Rays Resort and Palmerston Tower just one street behind the Broadwater. The property totals 1081m2 of flat land with 2 older properties separated into 5 different tenancies. With a gross potential income of approximately $61,620 when fully leased, there is good holding income whilst you work through a development application. The maximum lease is 6 months in duration in preparation of development. The site has been cleared of all major trees except one on the perimeter of the property. The land is zoned RD4 (1 dwelling per 200m2) but prospective purchasers are encouraged to enquire about higher density development due to its location.