Close to Picnic Point, well suited for current purposes and possible future site re-development, this parcel of ten units (out of fifteen) is to be sold together, in one line. Originally the landmark Chalet Motel, now individual one-bedroom units with covered carparks, the parcel shows a 5.98% gross rental return.

- The property has recently been re-roofed and repainted externally, NBN is installed in each unit. Internals are predominantly original, with some units showing upgrades/renovations.
- A high demand market rental property niche is satisfied by the current purpose, with numerous options open to develop and extract value into the future. A 5.5% rental income upside over current rent amounts is possible in this market.
- The ideal buyer would want to secure this parcel of ten and then move to acquire the balance of five units over time. With full site control acquired, options to amalgamate and potentially redevelop the site into quality residential property will attract and reward the right buyer well into the future.
- If you represent a Business or Government Department requiring single bedroom accommodation with future budget to work with, this site may perfectly suit your longer-term development and performance needs. For larger Investors, including developers and Super Fund managers, the opportunity to enjoy solid holding income, while considering future options for a premiere site/location must be seriously considered.
- Integrated property management services can be negotiated with the sale.

To enquire and to act on this excellent opportunity, contact Agent now and obtain a further Information Pack and Offer Submission form.