Now is you opportunity to buy this prime development site located in the highly visible and centrally positioned location of Banana Street Redland Bay.

Positioned immediately near the Ferry Terminal for the Moreton Bay islands of Russell and Macleay Island, development opportunities abound.

Subject to council approval, you may development the site. Zoned medium density (Subarea 1), you may apply to developed residences, apartments or villas.

Or apply for a change of use. The position is ideally suited to a convenience or liquor store for last minute purchases for the islanders. Or consider mixed use for the site with commercial premises on the ground floor with apartments above to take in the crystal bay views of Moreton Bay.

Or simply purchase for passive investment and enjoy and the existing income stream coming from the rental of the existing homes and their yards that are rented out to islanders for long term car parking. The current annual rental income for the two homes and the 30 car spaces is circa $57,000 per annum. What better hassle free investment for the self funded retiree or self managed superannuation fund? Enjoy the income for years to come as well as the expected strong performance in capital growth.

The properties are to be sold by public auction on the 16th February 2013 – 11.00am, however, the owner wishes to sell immediately and offers prior to auction are welcome and encouraged.

With two street frontage and access these properties offer so much in redevelopment potential. Call Adam Caughey 0417 210 604 or Gordon Whicher 0400 901 515 today to learn more about this ideal investment opportunity.