71 Banana Street, Redland Bay

Presented by The Mr Sell Team This Redland Bay development site consists of 3 lots, totalling 2422m2. With 2 street frontage and full DA approval for a 7 level apartment complex with all apartments having a water view. The approved complex will consist of 2 levels of secure on-site parking, then 5 levels of luxury apartments all with water views overlooking the bay and islands. In total there will be 35 x 2 bedroom apartments and 10 x 3 bedroom apartments. The current site is returning a combined rental income of approx $86,000 per annum and is made up of 3 homes on separate titles and 28 car parking spaces. Waterfront sites like this are very difficult to find and with its close proximity to shops, schools, marina and many other local amenities, this is a great opportunity for a developer to move in an create an iconic Redland bay waterfront address..