91 Cormiston Road Riverside TAS 7250

Located in sought after Riverside with expansive views across the Tamar River and to the mountains beyond this is a most unique opportunity indeed to secure a substantial residential site comprising 5 titles offering a total land area of 1.3403 hectares. Providing retirement living, there are 30 units on site, one and two bedroom, all are brick and tile with aluminum window frames and in good repair and condition. Most units have dedicated under cover car parking. The extensive grounds are well maintained and there is surplus land area available for further development (subject to council approval). In addition to the 30 units is a separate meeting room.

Key aspects of this unique offering include:

- Exceptional location with an excellent aspect in a tightly held suburb.
- High level of occupancy with all bar one unit occupied.
- Scope to lift annual revenue.
- Large 1.3403 hectare land area over five titles.
- 30 well maintained and presented one and two bedroom brick and tile residential units.
- Most units have dedicated undercover car parking.
- All accessways and roadways are sealed or concrete.
- Beautifully maintained gardens.
- General Residential zoning.
- Additional land area would suit further development (STCA).
- Freehold title of 1.224 hectares comprising 26 one bedroom units, all with separate power and water meters could be strata titled (STCA).
- Occupation spans both original Residents and Service Agreements and Residential Tenancy Agreements.

Here is a rare opportunity to secure a substantial residential holding comprising quality improvements, additional land area for further development (STCA) and scope to increase annual revenue. This is a great addition to any existing retirement living operator's portfolio and would compliment other assets beautifully, or what a great foothold for a new market entrant.

The information on this website has in part been supplied to Humphreys Real Estate Pty. Ltd. by third parties and all information is published solely for potential purchasers to assist them in deciding whether or not they wish to make further enquiries about the property.

Humphreys Real Estate Pty. Ltd. has not checked the accuracy of the information and does no more than pass it on.