UNDER CONTRACT
The expansive site totals 46.16 hectares* and benefits from development approval for a four bedroom dwelling across a cleared footprint or circa 2,988sqm adjacent to Cowlishaw Street. Other permitted uses under the zoning include eco-tourism resorts and bed and breakfast accommodation.
The land is adjacent to the Fernleigh Track, which is a scenic 15 kilometre* walking and cycling path used for commuting and recreational purposes. The track extends from Adamstown in the Newcastle LGA to Belmont in the lake Macquarie LGA.
The southern portion of the land is encompassed within a BioBanking agreement. The associated biodiversity credits do not form part of the land sale, however, in return for receiving annual management payments administered by the Biobanking Trust Fund, the land owner will be responsible for ongoing monitoring and reporting.
This is of significant value to the site owner as it means that a major portion of the property is to be kept in excellent ecological condition in perpetuity and that the management actions necessary to accomplish this are paid for in perpetuity from the Trust Fund fully funded at the time of the establishment of the BioBank in 2018.
*Approximate.
