High profile residential investment with upside

A unique opportunity to secure a prominent 1,362 sqm corner position with long frontage to the Pacific Highway in the coastal village of Lake Munmorah and the main gateway into eastern Lake Macquarie.<br/><br/>Currently the whole property including the carpark is leased by the existing restaurant which presents a perfect opportunity to hold as an investment whilst you explore future development potential, subject to council approval.<br/><br/><br/>- Freestanding brick and weatherboard dwelling with a ribbed metal roof<br/>- Alfresco dining area, ducted air conditioning, open fireplace, storage rooms, dining areas, bar & concrete patio<br/>- Five year lease to 2025 with option to 2030<br/>- Generating an income of $46,800 pa + GST (paid weekly)<br/>- Council rates and water rates are paid by the lessee<br/>- Adjoining the Lake Munmorah Motel<br/>- Significant land area of 1,362 sqm approx. with a level carpark <br/>- R1 General Residential zoning offering the ability for value-add options STCA<br/>- Located in a high growth precinct on the Central Coast NSW.<br/>- The Greater Lake Munmorah Structure plan identifies the future growth of the area over the next 20 years<br/>- Council rates $1,658 PA approx.<br/>- Water rates $1,328 PA approx.<br/><br/>Disclaimer: <br/>Every precaution has been taken to establish the accuracy of the above information, which we have gathered from sources we believe to be reliable; however, we cannot guarantee its accuracy and it does not constitute any representation by the vendor or agent.