Residential: Apartment Sites
STRAND OPPORTUNITY - GOING CONCERN OR STREET-TO-STREET REDEVELOPMENT SITE. SUIT OWNER OPERATOR, ASTUTE INVESTOR OR CREATIVE DEVELOPER.
For Sale: Expression of Interest Closing Thu 14 Mar
Currently operated as holiday letting apartments, the property comprises of 2 titles with 9 x 2-bedroom, townhouse style apartments facing The Strand, with ocean views across to Magnetic Island, and 6 x 2-bedroom townhouse apartments plus 1 x studio apartment fronting Mitchell Street. In addition, the property includes an upper-level 4-bedroom manager’s residence with balcony and sea views, inground pool, and undercover BBQ area. All apartments are fully furnished with new TV’s. Property was repainted 3 years ago.
The property offers an opportunity for an owner operator to continue with running the existing holiday letting business or a creative developer to take advantage of the Medium Density (5-level) Residential zoning to redevelop the street-to-street site, or an astute investor to run the apartments as permanent lettings and/or possibly group-title the apartments individually for resale.
Information Memorandum available.
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