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
