PRD Penrith have been appointed exclusive marketing agents for the sale of 7, 9, 11 Worth Street & 33 Rodley Avenue, Penrith.
This is unquestionably one of the most significant development sites to be offered for sale in the Penrith area for many years.
Spanning approximately 2,782sqm, the offering is zoned R4 high density residential with an 18m height limit.
The site comprises four separate lots, including three modest residential homes and a small apartment block of four 1-bedroom units, generating a combined income of more than $108,000 per annum.
What makes this site so rare and exciting is its premium location and the superb layout of the four lots, offering three street frontages.
An easy two-minute walk from Penrith CBD and Westfield, the site is situated in the blue ribbon residential area of the Penrith apartment market and is close to many of Penrith's top attractions.
In real terms, this location adds up to $100,000 to the value of a two-bedroom unit when compared to other areas being developed in Penrith and its surrounds, which are much less appealing to the owner-occupier market and the highly active downsizer market.
COVID has reaffirmed that today's home buyers are considering lifestyle well ahead of price point. To attract the best prices and enjoy an acceptable sales rate off the plan, your next development has to be well positioned, close to existing amenities. This exceptional offering delivers that advantage.
In addition, the site enjoys street frontages on three of its four sides, allowing your development to have three active facades, including the highly desirable north and east aspects.
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EXECUTIVE SUMMARY;
PROPERTY ADDRESS: 7, 9, 11 Worth Street & 33 Rodley Avenue, Penrith
LEGAL ADDRESS: Lot 17, Lot 25, Lot 24 in Deposited Plan 32844 & Lot 23 in Deposited Plan 33490
TOTAL SITE AREA: 2,782sqm (as per title)
ZONING: R4 High Density
COUNCIL: Penrith City Council
RENTAL INCOME: $108,420 per annum
AUCTION DETAILS
To be auctioned Wednesday 1st December 2021 at 12 noon.
Venue: Level 1 / 27 Lawson Street, Penrith NSW 2750
Note: We will also be streaming the auction online via the AuctionNOW platform. To follow, register and bid see link for AuctionNOW
Remember to mention you found this property on DevelopmentReady
