230 Cavendish Road, Coorparoo, QLD, 4151

EXTREMELY RARE FREEHOLD INVESTMENT WITH DEVELOPMENT UPSIDE

• Freehold 100% Leased Block of Units
• Substantial Development Upside
• 1093 sqm regular shape land.

LJH Commercial are pleased to present 230 Cavendish Road, Coorparoo to the market for sale via offers to purchase closing Friday the 26th of June 2020 (unless sold prior).

• Extremely rare opportunity to acquire future development site with holding income.
• The subject property offers 1093sqm regular shape improved land area. 28m frontage to Cavendish Road.
• Current improvements 6 x 2-bedroom units, 1 x 5-bedroom house split into two brick buildings.
• The buildings are in good condition, and are 100% leased on short and long term agreements.
• Gross passing income $122,200. Net Passing income $94,336 per annum (approx) (excludes land tax).
• Substantial upside with development approval for 6 x 2 bedroom units and 3 x 3 bedroom townhouses.
• Previous development approval for 15 units. 2-3 bedroom mix.
• Zoning: Low to Medium Residential. (2 or 3 Storey Mix) Zone.
• Prime Coorparoo position with city glimpses and potentially substantial view in re-development.
• Located only 4km to the Brisbane CBD, the property has close access to public transport including bus and train stations.
• The sellers have provided clear instructions to sell the property via formal offers to purchase to be submitted in writing by 26th of June, 2020 (unless sold prior).

Remember to mention you found this property on DevelopmentReady