A walk up start for the investor or developer looking to expand their property portfolio. The hard work is done for you with the current owners saving you time with a DA approval already in place for an ultra-modern 10-bedroom boarding house which includes a 5-car carpark.
This style of accommodation is ideal for its location, boasting walking distance to the waters edge and access to the M1 Motorway. Within close proximity to a large number of educational institutions, sporting facilities, shopping facilities and the business hub of Toukley and Lake Haven. Wyong Public Hospital & Tuggerah Lakes Private Hospital are also accessible via public transport with the local bus service at the end of the property’s street. Warnervale train station is approximately a 11 minute drive away.
Enjoy the benefit of an existing residential home on a R1 zoned parcel of land which will provide an immediate income to investors while final planning is completed.
Examples of similar accommodation in the area are generally inferior to this development design and are highly sought after. Upon completion of the development an estimate of the potential income would approximately be $182,000 p.a upon 100% occupancy. This estimate is derived from – 10x studios @ $350 per week approx.
Amongst the 10 rooms there are three different sized rooms which have a bathroom/laundry, kitchenette, wardrobe with space for bedding. The common areas allow for additional leisure space with common clothes hanging area and an outside courtyard. Off-street parking has also been designed at the rear of the site allowing 5 car spaces.
DA Summary:
- DA/1139/2019, approved 4th May 2020
- Notice of determination and conditions are available upon request
- Full Plans and building requirements are available upon request
Inspections are via scheduled open home or to arrange for a private inspection, please contact Andre Kubecka on 0414 807 876.
Land Size Approx. 600.7 sqm
Home Size Approx. 93 sqm
House As Is Rental – Market $485 – $500 p.w.
DA Approved Room Rent Approx – Market $350 p.w
Rates Approx. $1,493.44 p.a.
Water Approx. $849.09 p.a.