Development Opportunity – Income Producing

Offering a huge 2,024sqm of prime real estate right opposite the stunning bay beaches of Seaford and backing onto the picturesque Kananook Creek reserve, this exciting development opportunity offers two titles and six income producing properties at present. Offering multiple options to the buyer including a recent feasibility report showing the option to build eleven new townhouses with beach and creek views. Seaford is no longer a poorer cousin to Bayside suburbs to the north, with a vibrant shopping and café strip, easy access to both Melbourne and the Mornington Peninsula. There is currently 6 x 2-bedroom units on the property bringing in a combined income of approximately $95,600.00 per annum that you can continue to earn whilst your permits are being approved. With exciting new developments happening in Frankston and increased demand for lifestyle properties near the beach, this property is priced to sell.<br/><br/>• Huge 2,024sqm block with a frontage of 27.50m.<br/>• Opposite Seaford Beach and backing onto Kananook Creek Reserve.<br/>• Currently has 6 x 2-bedrrom units with an income of $95,600.00 per annum.<br/>• With two separate titles, the block offers multiple development options.<br/>• Perfectly positioned between Melbourne CBD and the Mornington Peninsula.<br/>• Surrounded by shops, schools, restaurants, entertainment, and transport.<br/><br/><br/>(All development is subject to approval from the relevant authorities and whilst all care has been taken the land sizes are approximates only)<br/><br/><br/>