Prime Investment & Development Opportunity - High-Yield Potential

Sale By Fixed Date - Friday 9th May, 2025 at 12pm (Unless sold prior). Indicative buyer range $690,000-$710,000.
Investors and developers, this is the opportunity you've been waiting for. Situated on a massive 2,012 sq.m (½ acre) corner block with two street frontages and lane access, this property offers both immediate returns and enormous development potential.
Currently leased until August 2025, the existing 7-8 bedroom brick home is generating a strong rental return of $1,050 per week ($54,600 per year), providing a secure income stream from day one. But the real value lies in the approved planning permit for further development, allowing for the construction of a 12-room workers' accommodation complex. Each bedroom is designed with a private bathroom, while shared kitchen and living areas create a highly functional communal space.
With an expected rental return of $190 per week per bedroom, full occupancy would generate an additional $2,280 per week ($118,560 per year). Combined with the existing lease, this equates to a potential annual income of $173,160-a rare and lucrative opportunity in today's market.
The existing home is well-suited to large families or shared living arrangements, featuring two spacious living areas, two bathrooms (one recently updated), and a well-equipped kitchen with ample storage, generous bench space, and a 900mm gas stove. Outdoor amenities include a covered BBQ area, a double garage, a large workshop shed, and a high-clearance carport-perfect for additional storage or parking.
With strong rental returns, a sought-after location, and an approved permit for high-demand accommodation, this property is primed for substantial growth and profitability. Don't miss this chance to capitalize on a high-yield investment-act now to secure this exceptional development opportunity.

All information about the property has been provided to Ray White by third parties. Ray White has not verified the information and does not warrant its accuracy or completeness. Parties should make and rely on their own enquiries in relation to the property.

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