OLD BAR NSW - DA Approved Residential Site - $15M - 30% Contracoin

Old Bar NSW - DA Approved Residential Site - $15M - 30% Contracoin

The development consent comprises demolition of existing structures and subdivision into three (3) strata development lots and Torrens title subdivision of 8 freehold residential lots ranging from 450m2 to 485m2 as shown in the plan.

The strata developments comprise:

Strata Plan 1: 42 two storey townhouses on individual lots (40 three bedrooms and 2 four bedrooms all with double garages) with a site area of 14,318.8m2
.
Strata Plan 2: 13 two storey 3 bedroom townhouses on individual strata lots all with double garages with a site area of 5,436m2.

Strata Plan 3: 23 two bedroom apartments on individual strata titles in a building consisting of 3 levels above underground basement parking with internal lift access. The proposal includes a large central landscaped area of shared open space to the common property. Area is 3,534.6m2.

Features:

• Lots 3 & 4 DP 22392
• Access is via Noroy Place
• 600 m to Coles Supermarket & shops.
• 1.4 kms to Old Bar Beach
• 14.9 kms east of Taree (population 26,000).
• 90 kms from Port Macquarie
• 174 kms from Newcastle
• Overall Site Area: 3.234 ha (8 acres)
• DA approved 19 Dec 2023 .
• All services available
• Zoned: R1
• Valuation 30 April 2024: $18,757,600

The property is located on the western outskirts of the existing Old Bar village on top of the hill being the
highest point in the village, located approximately
500 metres west from the commercial centre, 1 kilometre west of the beach and centrally located between the existing town centre and the new commercial zoned area in Precinct 2B 500 metres to the west.

This property is priced at $15M with the seller accepting $10.5M Cash (70%) + $4.5M Contracoin.