The Ultimate Opportunity: A Development site with Holding Income
Here lies the ULTIMATE development opportunity (STCA). Receive a steady income stream while obtaining the required approvals to develop this site and forever increase your revenue.
A total of 5528m2 made up of 7 blocks, this site occupies a fantastic position close to Gosford CBD, hospitals, waterfront and train station. Gosford is a sought after destination which attracts infrastructure investment and has a bright future as the key conduit from Sydney to the Central Coast. Home to the Central Coast Stadium, a selection of quality schools, shops, cafes and service providers - all key amenities are in close proximity.
Professionals and families are drawn to the area - which has all the attractions and amenities of the Central Coast within easy reach, whilst Sydney is an easy commute away (approx. 60 mins).
The Owners' Favourite Part: The opportunities with this site are endless. With a lapsed DA, investors can be confident they should receive council approval for a multi-unit development with 110 properties.
Features include;
- Total of seven blocks with three street frontages
- Current holding income of approximately $130,000pa (with potential to increase)
- Zoned R1
- Lapsed DA (2018) for 110 units - documentation is ready and can be re-lodged
- Current DA approval for 7 lot sub-division comprised of;
* Six 550-650m2 house blocks (all duplex sites)
* One x 1795m2 development site - which can be further sub-divided into three additional lots or 23 units, a boarding house, a childcare centre or a over 55's (STCA)
The particulars (all approx.)
Total development site size: 5528m2
27 Ormond St = 841m2
25 Ormond St = 556m2
23 Ormond St = 556m2
23a Ormond St = 556m2
11 Range Rd = 860m2
9 Range Rd = 904m2
7 Range Rd = 955m2
This is your opportunity to develop in a growing regional city.
What will you do with this site? Contact Larry today to discuss your plans
Remember to mention you found this property on DevelopmentReady
