CONTRACT COLLAPSE
139 Mary Street is now once again available for purchase, after going under contract almost immediately after marketing began, a purchaser change of circumstance means this property is now well and truly for sale once more.
139 Mary Street is one of those genuinely intriguing Grafton properties. Set amidst the charming, flood free Mary Street, hidden behind the quaint cottage at the front of the property, and benefiting from side access via Powell Street, there is a total allotment here of over half an acre(2207m2). The potential here then is obvious: 2207m2 of land, access available via two street frontages, a high and level block in a location that is close to the CBD, hospital and amenities.
As a development prospect the property is an enviable package, access via Powell Street is provided by way of the council maintained 'Powell Lane', while the vacant parcel behind the preexisting dwelling is approx 1300m2, potentially permitting 2-3 standalone subdivisions(SCTA). The AHD of the vacant parcel ranges from 5 to 5.9m approx, requiring minimal build-up on newly constructed dwellings.
The home itself is a tidy and modest hardwood cottage with three bedrooms and a sleepout. And while it could benefit from a makeover, the house in its current state is well kept and oozes character. The appraised potential rent return of the home as is stands currently is $320 per week.
139 Mary Street is not just a potential development venture however, with so much land on offer, and a tidy home already in place, those looking for room to breathe in a convenient, suburban setting should find much to like here. Whether it be room for the family horse (with the side lane access ensuring transport is easy), or simply enough space for the kids and pets, the potential scope of a property like this is limited only by one's imagination.
To say 139 Mary Street presents a rare and unique opportunity would be an understatement, parcels of this size in town are scarce as it is, while the presence of dual access ensures the block size is not just a novelty, and the land is both level and high, creating a combination of desirable factors that so rarely align as they have here.
