Attention ALL Developers. This DA approved development site of some 6.5 hectares comes with a zoning for B4 mixed use. Currently it can be purchased as a whole or it can be sold off as 3 separate Super Lots. The current infrastructure includes a brand new IGA Supermarket and a number of specialty shops alongside the site. The road has already been partly formed by the local council providing easy access to the whole site. From this level and slightly elevated site you can see the water which is just 400 to 500 metres away. A current feasibility study exists for a large medium density development for some 160 townhouses/villas to be built on site. With the new LEP due to be ratified by early 2013 the local council has indicated that it will look favorably at such a development in the area.
With the feasibility study estimating all costs/contributions involved, the end result shows a net profit of at least $16 million which is well above the normal 25% developers margin.
All offers above $3.25 million for this fabulous development site at Lots 68 and 69 DP 25550 Island Point Road and Old Wool Road, St Georges Basin will be seriously considered.

Property Code: 104945184