Colliers are pleased to bring to the market an excellent DA approved development opportunity at 602-608 Princes Highway, Rockdale for sale via an Expression of Interest Campaign (EOI) closing Wednesday 4th August 2021 at 4pm (AEST). Positioned on the desirable Princes Highway within the up and coming Rockdale residential precinct, this investment presents endless opportunity for developers to acquire prime real estate in the heart of Rockdale, equipped with DA approval for a 7 storey residential development consisting of 57 residential units as well as 2 levels of basement parking with up to 61 car spaces.
Situated within the Bayside Local Government Area, this B4 Mixed Zoned site has a total area of 1,479m²* with a large street frontage totalling 48 metres*, and two existing tenants paying a total net rental of $272,026.80 + GST per annum. The property lies within an active investor and owner occupier purchaser's market with strong population growth, in addition to strong rental demand.
Key features of the property:
- 1,479m²* of Land Area
- Huge potential uplift to increase height limit a further 9 metres if you increase the site area to 2,000m or above S.T.C.A allowing for additional GFA.
- 48m* street frontage
- $272,026.8 + GST total net rental income
- Two stable tenancies in the existing improvements
- 450m* to Rockdale Train Station
- 16km* to Sydney CBD
- 4.9km* to Sydney Airport
- Abundance of local schools in the area
- Parks and Playgrounds within the immediate vicinity
- 230m* to Rockdale Plaza
Key features of the site development include:
- B4 Mixed Use Zoning
- Approved GFA of 4,494m²*
- Premium DA approval for 57 Apartments
+ SOHO 3
+ 1 Bed 17
+ 1 Bed + Study - 8
+ 2 Bed 27
+ 3 bed 2
- Approval for 61 car parks spread out over 2 basement levels
For further information or to request an inspection please contact the exclusive selling agent:
Trent Gallagher
0432 242 063
