INSPECTION BY APPOINTMENT WELCOME
Wonderful opportunity to acquire a prime 1214m2 corner development site, comprising an original (3) bedroom cottage & (2) vintage flats or purchase separately for $675,000 each.
Zoned R3 Medium Density Residential, the site will permit development height to 34m & is ideal for boutique apartments or perhaps town-homes.
26 RECREATION ST:
- Lot 1 DP 360543
- Original (3) bedroom cottage with timber flooring, (1) bathroom and garage / leased at $400 per week
- Rates $3725.30 per annum
- Water $78.52 per quarter
1 BRETT ST:
- Lot 2 DP 360543
- 2 X (2) bedroom vintage flats, each with 1 bathroom, timber floors and shared huge 15m x 6m shed / leased at $285 per week each ($570 per week)
- Rates $4116.80 per annum
- Water $181.20 per quarter
This holding is located on the corner of Recreation & Brett St, directly opposite local sporting fields & native park lands, which is home to the Tweed PCYC Sports Centre.
You are virtually on the cusp of Coolangatta & Tweed, which allows you to enjoy major shopping and a mouth-watering smorgasbord of cafe's at a moment's notice.
In addition, you are within minutes to the Tweed Hospital, Bowls & Golf clubs, as well as the Gold Coast's world class beaches, Southern Cross University and the Airport.
Providing a gross holding income of over $50k per annum, there is scope to increase return by enhancement or simply sit back and earn a steady rate of return whilst deciding on future development options.
Comprising of (2) individual Lots & separate Titles, these properties would also appeal to a range of astute individual purchasers, investors, family syndicates & or super funds.
If you are thinking of developing the site, DJ Stringer is the leading Project Marketing Agent and can assist with all advice from design & planning right through to marketing & settlement of each apartment.
There is a growing demand for quality boutique apartments and this site is a perfect fit.