NORDS WHARF - LAKE MACQUARIE NSW - Residential Development Site - $5.5M - 30% Contracoin

Nords Wharf - Lake Macquarie NSW - Residential Development Site - $5.5M - 30% Contracoin

Coastal Acreage, R2 Zoning with Water Views

A significant land holding of 9,833sqm with development potential, the possibilities and potential that this property provides are only limited by your imagination.

Lake Macquarie suburb is the top five most attractive place for capital-city people and has claimed the number 3 position on NSW's top 10 boom suburbs.

There will be 7,000 new housing demand in the area and a new planning proposal for a smaller lot size (from 450sqm to 250sqm). Under the proposal, townhouse and apartment would be allowed in R2 residential zone.

-Nords Wharf is an extremely sought-after location, south of Swansea on the shore of Lake Macquarie in New South Wales. It is part of the City of Lake Macquarie local government area, appx. 25 minutes drive from Newcastle CBD and 55 minutes from Hornsby.

A simply stunning residential opportunity with water views, the location is picture perfect, being a stone's throw away from the lake with a breathtaking panoramic bush-outlook and within 10 minutes drive of Catherine Hill Bay, which has now been twice named as one of Australia's 101 Best Beaches.

Nords Wharf is located:

• 31 km (19 mi) north of The Entrance
• 8 km (5 mi) south of Swansea
• 34 km (21 mi) south of Newcastle
• 52 km (32 mi) north of Gosford
• 129 km (80 mi) north of Sydney

Features:
Area: 9833 sqm
Location: 250 meters to the lake edge.
Zoning: R2
Expected Yield: 15 lots subdivision potential (STCA). Minimum lot size being reduced from 450 to 250m2 .
Resales: McGrath 2022 appraisal at $1000/m2 land only (now $1500/m2)

The land is over 9,830m2 with R2 zoning, currently there are 2 proposed plans:

(i) 15 lots sub-division (incl.4 duplex = 17 dwellings).
(ii) 28 duplex sites i.e. 14 lots sub-division.

Priced at $5.5M with the seller accepting $3.85M Cash + $1.65M Contracoin