This stunning 1444m2 site in close proximity to Griffith University and the new Hospital offers development approval for the PEGASUS Building featuring 15 two bedroom apartments and 13 one bedroom plus study apartments. Plans include a basement carpark with 33 carspaces and 5 additional levels of apartments and a partial 7th level rooftop entertaining area. The site has a street frontage of approximately 33 metres on Musgrave avenue and is adjacent to Musgrave Park which is a 19.3 hectare site that provides walking trails, dog agility courses and other community infrastructure. Immediately north of the site lies the Labrador Sports Club. The surrounding area is well serviced in terms of public transport with a bus stop approximately 65 metres from the site. The existing dwelling can be kept for holding income and comprises of 4 bedrooms, 1 bathroom, a single lockup garage which has been converted to a 120m2 office and a carport. Alternatively, the existing site is being used as a commercial site with approval for Home Occupation (Natural Beauty Therapy). The owners are committed to selling on auction day.