Upstate are pleased to offer this outstanding DA approved development opportunity situated in the highly desirable and everchanging beachside suburb of Dee Why.
On offer is a very rare opportunity to acquire a perfect Build to Rent Investment in the heart of Dee Why, an area that has been transformed over the recent years with its new revitalized town centre and shopping precinct. This asset provides astute developers and investors an amazing opportunity to purchase, develop and either rent and hold or on-sell as a completed asset with a strong rental return.
* Land size: 234m2
* DA approved for 20 rooms (17 double rooms & 3 single rooms) Some larger 'One Bedroom Style' plans
* Site also comes with 3 commercial office spaces and 1 retail (café) offering for diversification
* Potential Net Return once fully completed = $615,000 + GST Net
* B Line bus stop right at your doorstep perfect for tenant appeal
* Opportunity to diversify your investment portfolio or development pipeline
* Build to Rent Offering and solid long term investment opportunity
* Strong population and demographic trends
* Flexible Development Controls MU1 Mixed Use, 27m Height Limit, 4:1 FSR
* Exponential rental growth and capital appreciation forecasts - with less than 1% 2099 rental vacancy rates and 9.7% rental growth in Sydney over the last 5 years
* Excellent long term cashflow opportunity
* Unique asset in key Northern Beaches location
* CC to be provided prior to settlement
The site is strategically located right in the Dee Why town centre and at the main public transport bus stop within close proximity to Dee Why Beach and Warringah Mall catering for the ultimate convenience the local population is after. The new Northern Beaches hospital, Warringah Mall upgrades, Dee Why Master Plan, Brookvale Master Plan, Dee Why PCYC, B-Line rapid transit system and proposed Northern Beaches tunnel, combined with a lack of development in the region have ensured that the Northern Beaches is a blue chip location for development.
Available on request via a shared link is all due diligence information including:
* Information Memorandum
* DA Documentation
* Consent
* Projected Income & Expenditure
For any further information, please contact Vincent West on 0403 444 000, Peter Mosedale on 0408 177 207 or Oliver Rosati on 0428 877 888.
