Situated on 1194m sq of land, this block may be your last opportunity to potentially develop units with ocean views. Located approximately 200 meters from the beach, this opportunity may never present itself again. The possibility of building between 6-8 boutique units creates the potential for huge profits for the right developer.

Land Details:
Area: 1194 m sq
Real Property Detail: Lot 61 on RB9693
Land Use 1: Multi Unit Dwellings (Flats)
Local Zoning: Housing
General Zoning: Urban
Title Reference: 15974094

Sales infomation:

Sale via Expressions of Interest:

All expressions of interest/offers are to be submitted to Harcourts Aspley and received by the 30th November 2009, 5.00pm EST.

All expressions of interest will be reviewed by the owners at the same time after the due date.
Expressions of interest/offers can be either faxed to: 07-3862 8822 or express posted (address below)

Development potential:
Number 5 and 7 Ocean View Parade, which are situated beside 1 Ocean View Parade have been developed into multi story units over the recent years.

7 Ocean View Parade:
1279 m sq – 6 Units – Most sales were recorded between 2006 – 2008.

Unit sale prices:
1. $800,000
2. $1,950,000
3. $850,000
4. $1,480,000
5. $1,350,000
6. $850,000

Total sale: $7.28 Million
Average sale price per unit: $1.213 Million

5 Ocean View Parade:
2458 m sq – 15 Units – Most sales was recorded between 2006 -2008 with recent resale in 2009.

Some unit sale prices:

1. $850,000
2. $845,000
3. $700,000
4. $845,000
5. $900,000
6. $1,150,000
7. $1,150,000
8. $1,100,000
9. $1,350,000
10. $1,350,000
11. $1,350,000
12. $1,350,000

Total sales: $12.94 million (base on 12 Units as 3 units did not have a recorded sale price)

Average sale price per unit: $1.078 million

From 1st January, the sustainability declaration for this property can be obtained by contacting the agent..