PRDnationwide Townsville are delighted to offer for sale by auction, a rare waterfront development site planned for 44 luxury apartments spread over four buildings, and four ground floor retail tenancies. The project comprising of 25 townhouses and 19 apartments has DA approval.
This prime site is strategically located atWongaling Beach in the heart of the Mission Beach coastal area. Access is facilitated by the Tully Mission Beach Road which links the three beachside communities.
The property represents a rare oceanfront development opportunity and as such will be highly sought after.
Island Shores is the only approved development site in the whole of the former Cardwell Shire Council area of Mission Beach and Wongaling Beach that is able to go up to three storey’s, and in this case even includes roof terraces.
The project is a relatively low cost construction project with some repetition and building heights limited to three storys. Parking is at grade and there are no elevators provided for. The building GFA is approximately 6,042 m2, and construction costs have been estimated at $12, 239,738, based on pre cast tilt slab construction. It is anticipated that Gross Revenue in excess of $27 m is achievable for the total project.
The property is being offered for sale by public auction. The auction will be held in rooms at PRDnationwide Townsville, 241 Sturt St , at midday on Friday 12 December 2008.