Same
This property is very similar to another property we sent an alert out for earlier in the year in the same suburb. On offer is 800m2+ of LMR land with no character constraints capable of being developed to 4 storeys. It would suit 6 townhouses, 14 units or due to a specific set of
circumstances, around 27 rooming accommodation rooms. Our preferred option is the latter, which should achieve between 9 and 10% gross rent return and around 30% equity gain, though the other options are also worth exploring. This is for sale via EOI (closing in 2 days!) and we’re proposing a conditional offer around $1.3m to $1.35m.
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