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An outstanding opportunity to acquire a prime real estate asset in the heart of Ettalong Beach. Located on a corner block with rear lane access and only 200m to the foreshore.
Arranged over two titles totalling 1,270sqm (approx.), the offering comprises a leased restaurant plus strata titled office and retail suites as well as a rear parking lot for approximately 12 vehicles. With a total gross income of over $250,000 p/a.
This property offers a unique opportunity for future development with a substantial holding income.
Under the LEP the height limit exists at 11.5m; however the controls in place give a bonus for the Ettalong Village area of 17.5m and a bonus FSR of 2:1. Zoning is B2. Based on the combined site area this would provide for a developable floor space of approx. 2800m2 and a building of approx. 5 stories in height.
This site is available for shop top housing with some form of retail on the ground floor that given it's sort after location would ideally suit a restaurant or bar. Car-parking could potentially be developed in a basement and the residential component separated from the retail if required.
There are concept plans available for residential/retail complex subject to council approval.
Features include:
- Leased to well-established tenants
- Two separate holdings to be offered in one
- Total site area approx. 1,270sqm
- Dual street frontage plus rear lane access
- Zoned B2 Local Centre
Remember to mention you found this property on DevelopmentReady
An outstanding opportunity to acquire a prime real estate asset in the heart of Ettalong Beach. Located on a corner block with rear lane access and only 200m to the foreshore.
Arranged over two titles totalling 1,270sqm (approx.), the offering comprises a leased restaurant plus strata titled office and retail suites as well as a rear parking lot for approximately 12 vehicles. With a total gross income of over $250,000 p/a.
This property offers a unique opportunity for future development with a substantial holding income.
Under the LEP the height limit exists at 11.5m; however the controls in place give a bonus for the Ettalong Village area of 17.5m and a bonus FSR of 2:1. Zoning is B2. Based on the combined site area this would provide for a developable floor space of approx. 2800m2 and a building of approx. 5 stories in height.
This site is available for shop top housing with some form of retail on the ground floor that given it's sort after location would ideally suit a restaurant or bar. Car-parking could potentially be developed in a basement and the residential component separated from the retail if required.
There are concept plans available for residential/retail complex subject to council approval.
Features include:
- Leased to well-established tenants
- Two separate holdings to be offered in one
- Total site area approx. 1,270sqm
- Dual street frontage plus rear lane access
- Zoned B2 Local Centre
Remember to mention you found this property on DevelopmentReady
