TWEED HEADS NSW - DA APPROVED DEVELOPMENT SITE - $14M - $3.5M (25%) CONTRACOIN

129 WHARF ST, TWEED HEADS NSW - DA APPROVED DEVELOPMENT SITE - $14M - $3.5M (25%) CONTRACOIN

Indulge in the ultimate easy-care lifestyle with these stunning ocean view apartments. This is a chance to enjoy a prime position with spectacular scenery as well as easy walking access to all amenities on offer in both Tweed Heads and Coolangatta.
This residential and commercial development project con-sists of three plots of land – a 3,341 square metres commercial and residential land located on 129-131 Wharf Street, and two plots of land located on 16-18 Boyd Street, with an area of 1,348 square metres.
Currently, a 3.5-star motel is operating on 129-131 Wharf Street which consists of 38 guest rooms, a swimming pool and a licensed restaurant. Whilst, two residential houses are located on 16-18 Boyd Street, each with an approximate size of 250 square metres.
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Since 2013, the Tweed Shire Council has changed the use of the land
and increased the floor space ratios to accommodate population
growth in the area.

The maximum floor space ratios for commercial and residen-tial land have been increased to 2.70 and 3.25 respectively. The maximum height of a building is 35 metres.
The project has been granted a Development Approval by the local council in April 2017 to build 121 residential apartments and 2 retail shops, providing an opportunity to transform the assets into two modern medium/high-rise apartments, which would expect strong income streams after completion.

We have this DA approved development site available priced at AUD$14M with the seller accepting AUD$10.5M cash plus AUD$3.5M (25%) Contracoin as part payment.