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This massive development site is 1821sqm with 2 street frontage to Clarke St to the north and Chandler St to the south.
In its current form the site consists of a tenanted 3-bedroom house, now in need of TLC located at the southern end returning $235.00 thru till April this year.
However the real opportunity lies in its enormous potential.
The site has previous Development Approval (no longer current) to be subdivided into two 900m2 (approx) parcels, and additional DA (no longer current) for four architect-designed townhouses on each parcel.
Your options include:
- undertake the 8-townhouse project as an off-the-plan development
- undertake the 8-townhouse project, selling one parcel of four off-the-plan, allowing the other parcel to be held as a long-term investment
- sub-divide and develop the northern parcel whilst retaining the house on the southern parcel as a tenanted investment or owner-occupied home
- sub-divide and on-sell one parcel to assist in financing the development of the other parcel
- remove all dwellings and re-purpose the site entirely.
This is possibly the best small development site available so close to the city and airport.
With a multitude of options it will appeal to both first-time developers, and those with more development experience who have an eye on Townsville's booming property market.
Rarely do opportunities of such nature come available to market.
Get in touch today to discuss this unique offering - Luke on 0432 773 223.
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