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A multi-level development site, located in one of Western Australia's prime apartment precincts, in the lively coastal district of Scarborough which is currently undergoing substantial revitalization.
This property provides excellent ocean views across Scarborough Beach from the rear elevation.
The property currently has an older style, solid residence which is currently rented for $400 per week until March 2021 .
The property lies within the Metropolitan Redevelopment Authority's Scarborough Redevelopment Scheme - Groves Precinct, with zoning that allows for medium density residential developments.
* Land area - 1,012m²*
* Approved Development for 15 apartments over 5 levels with potential ocean views
* Holding income with potential for rental growth
* Lengthy development approval - Invest now develop later
* Walking distance to Scarborough Beach front and entertainment precinct
Call Neil Magro on 0408 866 881.
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