1 Station Lane, Penrith NSW 2750

Here's an exceptional opportunity to secure an R4 Zoned 862 sqm block approved for a three (3) storey Boarding House in a premium CBD location close to Penrith Station, Westfield, Kmart and High Street shopping strip. DA consists of nineteen (19) units + one (1) Manager's room plus enclosed ground floor parking for seven (7) cars. Take advantage of the high rental demand for studio units and being in an exceptional location close to shops and Penrith Station will always appeal to tenants, therefore reducing vacancy periods. Potential rent return $335,400 PA (approximately, based on current market prices) Key features: • Zoned R4 / 18 mt height limit / DA height 13.25 mt • 862 sqm block DA Information: • Five (5) double units (includes Manager's unit) • Fourteen (15) single units • Units ranging in size 13.9 m2 (singles) - 24.3 m2 (doubles) • Potential rent return $335,400 PA (approximately - based on current market prices) • The site is positioned at the rear of a well established block of units and opposite a large carpark accommodating High Street shops • No basement parking: Seven (7) ground floor parking spaces The site is being offered as an 'OFF MARKET' opportunity. The Owner will consider all genuine offers. Located within walking distance to: • Penrith Station: 600 mt • Westfield: 600 mt • Coles and Kmart: 750 mt • Cafe's and speciality shops: 290 mt • Ripples Penrith: 300 mt • Childcare Centre: 230 mt • Club Paceway and Trotting track: 500 mt Currently sitting on the site is an older style home leased for $360 per week (expired lease). For any further information, please contact Helen Fitzpatrick 0414 362 955.