The Property is situated in the locality of Cooranbong on the western side of Deaves Road and approximately 400 metres south of Freemans Drive. Freemans Drive is the main local arterial road linking Freeman's Waterhole in the north and Morisset in the south. The F3 Freeway (Now M1) between Sydney and Newcastle runs past Cooranbong, to the east of Freemans Drive, its closest local road connection is at Morisset about 5 kilometres to the south of Cooranbong.
The Property offers an outstanding opportunity to purchase a development site with DA approval for an Over 55's Retirement Village.
The Approval is briefly summarised as follows:
- 131 Units over six stages with a community facilities; - Approved 17 August 2009; - 131 Residential car spaces; - 67 Visitors car spaces; - 2 disabled car spaces; - Total contribution fees of $1,074,205.95 (as indicated in the development consent).
The owner has obtained substantial commencement of the DA, letter from Lake Macquarie Council confirming physical commencement has occurred in August 2014.
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Purchase price
$
1,234,567
Deposit available
$
123,456
Loan term
30
years
Interest rate
3.00
%
repayments
$0/month*
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