* Tender closes Sunday 22nd November, 2009 at 5pm”18 unit hostel” This property offers fantastic investment opportunity for redevelopment on 1386m2 with residential density RD6 zoning. The current development is a hostel with 18 studio units and a 3 bedroom residence with a healthy return.Ideally located opposite the Gold Coast Hospital and adjoining St Hildas Private School this property is situated in a position second to none.The current development (hostel) – has a healthy income of $209,000.00 (approx.) per annum with an average occupancy of 80%.This property must be sold, so, for your opportunity to purchase this very rare and exciting opportunity contact the marketing agents to arrange an inspection.Information:* RD6 Zoned Medical Precinct * 6 Storey height limit (STCA) *18 studio units + 3 bedroom residence * Opposite Gold Coast Hospital * Adjoining properties: St Hildas Private School * Land Size 1386m2Contact: Shane Thackeray 0409 269 085 or Phil Spillane 0414 984 984