Appetite
Depending on your appetite for pushing the boundaries, this is either a really awesome development site, or worst-case scenario, a fabulous
land bank opportunity with future upside. On offer is a circa 875m2 block of LR land with a huge frontage and a pleasant 3 bedroom home
sitting on it that can easily be converted to a 4 bedroom home. It is LR zoned and located in a quality street, though not far from an
abundance of retail. This proximity allows for 300m2 lots. At minimum we can subdivide into two lots, though our numbers are falling short
for this. Regardless, based on recent nearby sales this is a good pickup even if you couldn’t develop it any further, making it ideal for
land banking. There is a chance, though a long way from a guarantee, of achieving three lots that are circa 290m2 each with sensational
equity gain the result. As there’s no certainty around this option, we do not recommend buying this property if that is your only goal.
However, for those happy to land bank should it not come off, or those simply looking to buy well and have future upside, then this is a
great pickup. Buyers at or just over $1m should call Justin on 0410511535.
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