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Residential
98 Benara Road, Caversham, WA, 6055

Property details

  • Property ID:
    20897
  • Under Offer:
    UNDER OFFER
  • Area:
    3.05 hectares (*approx)
  • Type:

    Residential: Greenfield / Land Site

  • Development Approved:
    Approval to subdivide the estate into 4 x lots
Agency information
Lisa Frances

Overview

3.05 HECTARE EMPIRE

UNDER OFFER

Your footprint in the Swan Valley will be your family's heirloom...this outstanding estate cannot be compared to the average estate for the following reasons:

Approval was granted by Western Australian Planning Commission in 2016 for the potential to subdivide the estate into 4 x Green Title lots (subject to conditions):

The front parcel of land of 2 Hectares zoned Swan Valley. The remaining parcel of land of 1.05 Hectares zoned Residential R5 to be subdivided into 3 x lots
(2005m2; 2009m2 & 7511m2).
Please note the approval will be expiring 23rd Dec 2019 but a new application can be obtained

There are 2 x tenants in place paying $5,800 combined PER MONTH

The estate fronts onto 2 x roads - Benara Rd & Betterton Rd for easy access

You have the option of maintaining the estate "as is" while you relax and collect the monthly rent
OR
Keeping the front tenant who pays $2,500 per month on a lease till Oct 2021 and then has the option to rent till Oct 2026
Keeping the other tenant who works from the 3 x sheds and pays $3,300 per month and is waiting to sign a new lease
Meanwhile make an application for a new approval to subdivide the 3 x lots and then selling them in the vicinity of at least $500,000 each
(total cost of this project is estimated to be approximately $300,000 - $400,000 +)
OR
Keep both tenants and subdivide the land into 2 x lots (front rural and rear residential) and either sell the rear land or build your family residence

When the leases expire and either you or the tenants no longer wish to renew, you then have the option to demolish the existing structures and build
a massive residence. If you don't wish to subdivide, you can build 2 x massive residences on the 1 title.

Additional Features:
  • Lettable fallow vineyard
  • Approx 700m2 of shed space
  • 2 bedroom cottage which in its current state would only be suitable for storage or as a home office
  • Water license - annual entitlement 3,600 kL
  • All services available

Known as a food lovers haven, a wine connoisseurs delight and a naturalist's dream, be spoiled for choice by the raw, natural environment the Swan Valley region offers.

Located 25 minutes from Perth City, the "Swan Valley welcome" is as warm as the sun that ripens the grapes.

Rising from the rich earth and crowned by endless blue skies, the Swan Valley landscape is different from any other in Perth.

Potential buyers please do your own due diligence with regards to the property as this will be a condition of the contract.

Whether you are an investor with vision...want to be a country squire...or a seasoned developer, contact the exclusive selling agent Lisa Frances to arrange a
private inspection, request information package and receive instructions on how to submit your "Letter of Offer" before the cut-off date of 31st January, 2020.
Please note the owners reserve the right to accept an offer prior to the cut-off date.

(any information above is stated in good faith and the agents and owners will not be held liable for any incorrect information)

Remember to mention you found this property on DevelopmentReady.com.au
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