overview

  • 1P1891
  • Development
  • For Sale
  • 400 sqm
  • 6970 sqm
  • 100 meter
  • $0.00 Quarterly
  • $0.00 Quarterly
  • $0.00 Quarterly

Description

Significant HOLDING INCOME with APPROVAL FOR FURTHER DEVELOPMENT
Located on the southern entry to the popular, and internationally recognised, Whitsunday Region, this aggregation offers a 'One of a Kind' Commercial Opportunity. With a 100m Bruce Hwy frontage the sites boast an enviable position that provides maximum exposure for existing tenancies and development of others into the future.

This rare opportunity, in its current form, comprises 4 titles over 6972sqm. When benefiting from both the Development and Preliminary Approvals over the aggregation the number of Titles will be reduced to three:
- The existing Commercial Tenant (Milne Bros. Proserpine) = 1 lot
- DA over existing Brick Veneer home and vacant lot = 1 lot
- PA over the Timber Cottage = 1 lot

The investment is secured by with a commercial lease over the Milne Bros. Proserpine site with a holding income of $85,000 net per annum subject to CPI and other agreed increases. For the purpose of the sale the 2 Residential Homes are currently vacant but have the potential to yield a combined rent of $850 per week ($45,000p/a). This provides the savvy investor an income of some $130,000 per annum whilst processing the opportunities available to the site.

North Queensland, and in particular Proserpine/Whitsunday Regions, is experiencing significant growth in the commercial and residential sectors. It is one of Australia's most sought after lifestyle locations and, with continued population growth, it is primed to prosper from development opportunities.

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