DA approved for additions and alteration to an existing 3 storey building into 32 affordable housing units with a communal roof terrace.

4 X 2 Bedroom loft apartments.
5 X 1 Bedroom loft apartments.
23 X 1 Bedroom/studio apartments.

This Sensational Redevelopment Site is being offered for sale for a limited time only. Under the NRAS (National Rental Affordable Scheme) the government will pay to the developer/ investor approx $9,000 plus per annum per unit tax free as an incentive to rent the property at a reduced rent of 80% of market value.

Example as follows:- 1 X 1 bed/studio
Market rent $380 pw. Less 20% = $304 pw + Tax Free incentive $180 pw. Total rent $484. pw and you can negative gear the unit as the additional $180 pw is tax free and not added to the rent income for tax purposes.( you must check with your account in regards to the above information to verify same.)

This property is located on the doorsteps of the City, being only a stroll to Central Square Railway Station, light rail, Broadway retail centre, RPA Hospital, Victoria Park Olympic swimming pool, Sydney University, UTS, Seymour Theatre and the CBD.

This is a RARE opportunity to secure a
QUALITY REDEVELOPMENT SITE