This is your 2nd chance to secure this prime coastal development site!

Don’t miss your 2nd chance on this one, last contract fell through so no it’s your chance!<br/><br/>This RARE coastal opportunity is perfect for the astute investor as properties like this simply will never exist again!<br/><br/>Located on West Coast Highway a short 100m walk to the sands of Scarborough Beach sits this group of 3 villas. The property is comprised of 3 separate villas, each one a 2 bedroom, 1 bathroom, rental income producing home all positioned on an large 1,353sqm land holding!<br/><br/>What are your options?<br/>1 – Purchase this unique parcel as a holding investment and rent out each of the homes knowing that land like this will only become more and more in scarce.<br/>2 – Maximise the rental return buy renovating the existing villas and grounds to creat a highly desiragble group that could demand much higher rental return than currntly achieving.<br/>3 – The most advantageous opportunity is to create a Multi-Storey Residential Development with sensational views, overlooking our prized world class Scarborough Beach.<br/><br/>Located within the “Gateway East” precinct of the redevelopment area this 1,353sqm parcel meets the current guidelines for the potential approval of a 4 storey development and consideration upon application for an additional 2 storeys. (*all subject to full approvals by relative authorities)<br/><br/>What to know:<br/>Approximate rental return (scope for higher return, speak to agent for info)<br/>Unit 1 – 2 x 1 with yard – tenanted $324/week until 2nd June 2023<br/>Unit 2 – 2 x 1 with yard - tenanted $350/week until 17th Jan 2024<br/>Unit 3 – 2 x 1 with large yard - tenanted $350/week until 24th Feb 2024<br/>The property also features plenty of parking for extras cars/visitors<br/><br/>Capitalize on the biggest transformation this iconic precinct has seen in more than 30 years!<br/><br/>The recently completed $100 million redevelopment has brought this historic lifestyle location back to life.