Victoria, Bayside – Renovated Home with Plans & Permits

***SOLD*** Development Site

This property is close to the town centre, hospitals, tertiary education facilities, multiple shopping centres, transport, an abundance of primary schools and more.

Description
There is a beautifully renovated home on this site, that would be easy to rent out if the purchaser did not want to take possession themselves.

Coucil have already issued plans and permits for 2 townhouses to be built at the rear of the block.

Depending upon JV partnerships and structure set up, it may be possible to keep some units for a passive income.

Summary
Purchase Price: $770,000 – $840,000 
Rent potential: $490 – $530 pw (3.28%)

Retail price of townhouses once built: $750,000+ each

Option Rent and Develop later:
Total Funds required to complete deal as as a development: To be determined by developer
Estimated Construction Costs: To be determined by developer
Estimated profit: If you wish for us to do a feaso for you, we are happy to assist for a fee

If you like what you see and are keen to know more, please contact us to receive a non-disclosure form. Once this is returned you will receive a link to full information, along with a unique password to access the webpage that contains all the information you need to make an educated and informed decision.

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Vicky Gardner

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