TWEED HEADS NSW - DA Approved Botique Development Site - $12.8M - $2.8M Contracoin

We are proud to present to the market this development opportunity in the central area of Tweed Heads bordering Coolangatta locations. This carefully designed and planned development is arguably one of the finest looking buildings with a mix of 1, 2 and 3 bedroom apartments spread over 11 levels that will harbour magnificent views out towards the Pacific Ocean, hinterland and beyond and ready to market off the plan whilst working towards construction.

With the anticipated stage 4 light rail extension from the Gold Coast into the princess region of Tweed Heads makes for a quality living and lifestyle experience. The approved site is set over four titles of existing dwellings with current rentals in place over all four properties. Currently returning $119,340 per annum with a vacant flat to be offered for rent after renovations. (Previously rented for $17940 per annum).

Key Site Attributes: Amalgamated four dwelling frontage.
Land Area - 2,814m2; Lot 7 (620m2) Lot 9 (677m2), Lot 11 (733m2) Lot 13 (784m2)
Height 49.5 metres - FSR - 4.5:1 - Zoning R3 Medium Density Residential - Totally Centralised Location.

Holding income - $119,340 per annum. (current unit under renovations with a further $18,720 per annum to increase holding income)
DA Approval: Full Approval (NSW PLANNING) - 95 units - Mix 1, 2, and 3 Bedroom Apartments - Multi-level basement parking - Architects - Tony Owen Partners (Sydney)

Price:
$12.8M - $10M cash + $2.8M Contracoin

A copy of the current valuation and a comprehensive list of documents available to prospective purchaser.