TOWN proudly present to the market a rare and outstanding opportunity to purchase three adjoining recently renovated properties, all generating a stable income stream, covering a total of 1942m2 in a prime location with Principal Centre zoning, providing the possibility of development which could include buildings of up to 18 meters*.
Building 1: 52 Parker Street, Maroochydore is a double storey block of four units comprising 4 x 2 bedroom, 1 bathroom, 1 car on a 642m2 site –all currently tenanted and generating a gross annual income of $104,780.
Building 2: 54 Parker Street, Maroochydore is a block of three townhouses comprising 3 x 2 bedroom, 1 bathroom, and 2 car spaces (one secure) on a 668m2 corner site –all currently tenanted and generating a gross annual income of $90,740.
Building 3: 5 Wrigley Street, Maroochydore is a block of seven units comprising 4 x 1 bedroom, 1 bathroom, 1 car; 2 x 2 bedroom, 1 bathroom, 1 carport; and 1 x 4 bedroom, 1 bathroom, 1 car on a 632m2 site – all currently tenanted and generating a gross annual income of $191,360.
All buildings are circa 1970 and have been tightly held for decades. The contiguous nature of this offering truly elevates this opportunity in terms of potential development; owning all three is holding a significant slice of a major growth precinct within walking distance to the Maroochy CBD, Sunshine Plaza, Cotton Tree, and beaches.
The Principal Centre Zoning covers uses including retail, commercial, residential, and community – purchaser will need to do appropriate due diligence to ensure intended use/plans will be permissible by council.
In recent years Maroochydore has benefited from multi-million-dollar infrastructure improvements and investment from both the private and public sector, and is very much the leading retail, commercial, and entertainment hub of the Sunshine Coast; central not only in terms of activity but geographically within a 12-18 minute radius to the airport, major hospitals, and the university.
This is a versatile portfolio that caters to a broad range of investment strategies and development visions. Whether you are an investor seed to land bank and enjoy the returns whilst holding or a developer looking to capitalise on the potential for vertical expansion; this is an opportunity that will deliver assured future prosperity. Contact Agent for copy of Information Memorandum.
*Subject to council approval
Summary of Features:
- Prime investment/development opportunity
- 3 adjoining renovated buildings – totalling 1942m2
- Principal Centre Zoning – development potential
- Possibility of buildings up to 18 meters (stca)
- All currently returning stable income stream
- 26 bedrooms, 14 bathrooms, 17 car spaces
- Landbank – hold & enjoy returns or develop
- Walk to beaches, CBD, Plaza, Cotton Tree
- Contact Agent for Information Memorandum
