Development Site with Income (Listing ID:217)
Address: 37159 BRUCE HWY
Post Code: 4816
Floor Area (m2): 750
Land size (m2): 65300
Full Description: 6.5 Hectares adjoining Elliot Springs - Motel and Residence - Potential Subdivision
This property is a great investment for the astute Developer / Investor in Townsville’s future growth corridors. 6.5 Hectares of Uniquely positioned land ripe for development close to the city with residual income. Currently home to a 3.5 Star AAA 10 fully self-contained roomed Motel and large residence operating under lease with experienced operator.
Why you should you purchase this great opportunity?:
- Potential Asset Value of $12m fully developed (STCA)
- City Side of Elliot Springs Development
- Income Producing
- Motel Leased until at $28.6k PA + Outgoings
- Current unimproved Asset Value of $850k and $200k Lease Value
The suburb of Julago is the subject of much talk in Townsville, It is where the $1b Elliot Springs Development has commenced and is only 15kms South of the CBD. The Sunbird Development site butts up to Elliot Springs to the city side. The Town Planning classification is consistent with future residential A and B. Infrastructure provisions have also been made.
The Sunbird Development Site is on 6.5 Hectares of hillside that has been cleared with bevelling commenced to allow for 75 x 950m2 blocks and green parkland connections. There are a myriad of other potential uses for the land including future Aged Care subject to Council approval. The site has a fantastic elevation and valley aspect with a gentle sloping orientation. It provides for excellent drainage, is not subject to any flooding and the valley funnels the prevailing South Easterly breezes.
The seller is serious and committed to selling although other options could be explored with potential to lease the Motel site and Business with an option to buy the freehold.
For more information on this great opportunity contact Denny anytime.