199 Corlette Street
Development Prospect With Holding Income
Perfectly positioned near business, beach and schools, this property presents a brilliant re-development opportunity in a sought after location. The property is zoned B(2) Local Centre which allows a mixture of residential and commercial accommodation (subject to council approval).
It is offered for sale with concept plans for (14) studio apartments and ground floor commercial suite.
- Land area 333m (approx.)
- (14) metre height limit
- Floor space ratio 2:1
- Current net income $29,705 per annum
A rare opportunity to acquire property in this blue ribbon suburb and located just (1) minute walk from Junction Fair Shopping Centre.
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