LJH Commercial are pleased to present 230 Cavendish Road, Coorparoo to the market for sale via offers to purchase closing Friday the 26th of June 2020 (unless sold prior).
* Extremely rare opportunity to acquire future development site with holding income.
* The subject property offers 1093sqm regular shape improved land area. 28m frontage to Cavendish Road.
* Current improvements 6 x 2-bedroom units, 1 x 5-bedroom house split into two brick buildings.
* The buildings are in good condition, and are 100% leased on short and long term agreements.
* Gross passing income $122,200. Net Passing income $94,336 per annum (approx) (excludes land tax).
* Substantial upside with development approval for 6 x 2 bedroom units and 3 x 3 bedroom townhouses.
* Previous development approval for 15 units. 2-3 bedroom mix.
* Zoning: Low to Medium Residential. (2 or 3 Storey Mix) Zone.
* Prime Coorparoo position with city glimpses and potentially substantial view in re-development.
* Located only 4km to the Brisbane CBD, the property has close access to public transport including bus and train stations.
* The sellers have provided clear instructions to sell the property via formal offers to purchase to be submitted in writing by 26th of June, 2020 (unless sold prior).