Landing the Perfect Development Site… By the Beach

Purchase Price
Est Value
Land Size
900 sqm

Few things are more rewarding than finding a property fit to be your next development project. This client of ours had been looking for one and approached us to help her find a development property. We loved working with her before and were glad to collaborate again. 

The property we came across was off-market and after spending 5 hours doing our due diligence, we heard back from our architect who drew up a concept plan the very next day. We finalised a 3-month settlement after negotiations and drafted an application to lodge. 

This property is a 900 square metre block in a medium density zone and, according to early feedback from the council, it can fit 5 townhouses with 3 bedrooms and 2 bathrooms each! Each townhouse is being sold for around $450,000. The rent is $285 per week which will go up to $300 with renewal in the coming 3 months. What’s more, they are just a 5-minute walk from the beach, with a view and 19 squares!