PROPERTY DESCRIPTION

This is an extraordinary and rare opportunity to secure a large 1,237m2 beachside Hi-rise development site on only two titles with an impressive 30m frontage.

Both Buildings were constructed in the ’70s. The existing improvements include 7 units – 5×2 BDR and 2×3 BDR. ( *Estimated Gross Annual Income – $244,000.00 PA)

This superb development opportunity is within 50 metres to renowned surf breaks, Palm Beach is regarded as one of the most beautiful and cleanest beaches in Australia.

The booming CBD is approx. 500 metres away, offering casual and 5-star cafes, restaurants, bars and clubs, speciality and nationally branded boutiques and shops, plus Professional Businesses and Banks.

Current Zoning:

• Medium Density Residential
• 29m Height Limit (code) 43.5m (Impact)
• 9 Storey (code) 14 Storey (Impact)

Sales Process:

EXPRESSION OF INTEREST CLOSING 18TH NOVEMBER 2021 @ 4:00PM