OUTSTANDING MDR ZONED DEVELOPMENT OPPORTUNITY
This exceptional property encompasses 809m2 of prime real estate, strategically situated just moments away from Cleveland's town centre.
This prime allotment falls within the MDR4 zoning, allowing for a potential 6-story development (subject to council approval)*. It presents an ideal opportunity for a high-value residential project, capitalizing on its picturesque vistas, or as a savvy land investment for the future.
With an approximate 20-meter frontage and the potential for up to 40 meters in depth, recent planning guidance suggests the 809m2 site can comfortably accommodate a six-story unit development (STCA).
With potential views from top floors
Additionally, there are multiple potential uses for this property (STCA):
• Multiple Dwellings
• Residential Care Facility (including NDIS)
• Retirement Facility
Currently, the property hosts dual living with rental income in excess of $43,000pa that can help offset holding costs during the planning and development stages, making this a truly unique and promising investment opportunity.
Please call Jade or Tania to discuss and book a private inspection.