Incredible Value - 37 Room DA Approved Boarding House
* Huge benefit of NO REQUIREMENT for Community Housing Provider (CHP) management with this boarding house
* Your next Build To Rent development!
* DA approved for 37 rooms (35 double rooms & 2 single rooms) & Commercial ground floor space
* Potential Net Return once fully completed = $1,075,000 + GST
* Potential end val of $19,500,000
* No basement required to be built all parking on grade
* Unique position for a Build-To-Rent opportunity on Northern Beaches with huge tenant demand and soaring rents
* Carefully designed by the award winning - Gartner Trovato Architects
* Ability to cost engineer your build perfect for a builder/developer
* Great unit layout mix with 6 courtyard units and 23 balcony units
* The 863m2 site itself offers a great frontage onto Condamine Street and is peacefully nestled amongst trees to the rear
* Gateway suburb with huge tenant demand due to close proximity to Manly, B Line Bus & Spit Bridge
* Location well supported by multiple supermarkets and extensive retailers
* Strong population and demographic trends in Manly Vale & Balgowlah
* Exponential rental growth and capital appreciation forecasts for the region
* Site is primed for development and no demolition required
* 6 car spaces included, internal lift access, shared top floor common room with balcony and ground floor 40m2 (approx.) commercial/retail space
Upstate, as the exclusive selling agents, are pleased to offer this outstanding DA approved development opportunity situated in the highly desirable and constantly evolving suburb of Manly Vale.
There is a unique opportunity to purchase the last remaining undeveloped block of land in Manly Vale/Balgowlah. Offering a chance to develop right away and either rent and hold or on-sell as a completed asset with a strong rental return.
The site is strategically located on the border of both Manly Vale and Balgowlah, suburbs with great accessibility and connectivity with greater Sydney but also strong demographic future trends. The property is within close proximity to Stockland Balgowlah Shopping Centre, Woolworths, Coles, Bunnings, B-Line bus stops and Warringah Mall making it a great location for prospective tenants.
Further detailed Due Diligence information available on request.
For any further information, please contact Vincent West on 0403 444 000 or Oliver Rosati on 0428 877 888
