Hot Development Opportunity, Walking Distance to Hamilton CBD!
Spread across three lots on a total of approx 570m2, this development project could be the hottest opportunity you see this year! Zoned high density residential, the property has architect yield for a four story building with 10 units, 14 car spaces, storage, foyer and commercial space. The building height is 14m with the floor space ratio 2:1. On the ground floor there are 14 car spaces, 65m2 of commercial space, storage and a foyer. The first and second levels each have 4 x 2 bedroom apartments equaling 8 units. The third level has 2 x 3 bedroom apartments. These architect plans are designed to show you what can be achieved with the space but are subject to council approval. Alternatively have all 2 bedrooms to achieve a greater GRV and lessen costs to construct. Lot 66 is 177m2, lot 68 is 182m2, and lot 70 is 210m2, with all three lots totaling 569m2. Lots 66 and 68 are vacant while lot 70 currently has a two bedroom unit on it achieving $300 per week in rent. This sought after location has strong appeal to a broad range of buyers and tenants alike, making this a solid investment. Positioned in the heart of Hamilton, this property is walking distance to the CBD with supermarkets, cafes, TAFE, parks, schools, medical centres and pharmacies. Leave the car at home as the bus depot is only 350m away while the Hamilton train station is 750m away. With a high demand for centrally located newly constructed properties, this opportunity will not last long! Call John Todorovski at Dotcom Property Sales on 0438 528 322 to organise your inspection today.
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