7-9 River Street, Petrie QLD 4502

THIS PROPERTY IS NOW SOLD

Super Fund - Investment Long Term Hold - Development Opportunity - 2044m2 in High Growth University Area with Petrie Train Station a Short Walk Away!

Gross return of $228,280 per year - working out at 6% gross

A once in a lifetime opportunity to secure a HUGE 2044m2 (just over 1/2 acre) parcel of land in the centre of Petrie that offers redevelopment opportunity and exceptional scope as part of The Mill Moreton Bay Priority Development Area. Held for over 40 years by the one owner, the opportunity is now available to secure this exceptional site that is 650m to Petrie train and the new Sunshine Coast University Moreton Bay Campus! The local Woolworths supermarket and Petrie Hotel opposite, acres of parklands, schools and bus within just metres of this site.

You can redevelop the site to include both residential and commercial premises (STCA), renovate the existing 12- pack for increased yields OR simply sit and hold and invest in a high growth area and reap the rewards in the years to come- the choice is yours!

With a solid and immaculate cavity brick 12-Ppack complex, comprising 4 x 1 bedroom one level apartments and 8 x 2 bedroom two storey townhouse style apartments - this is certainly an impressive property for the investor seeking a blue-chip investment opportunity with potential for future growth and further development.

Located just 29km to Brisbane CBD, in this exceptionally HIGH GROWTH pocket of the Moreton Bay Priority Development Area earmarked for extensive redevelopment in the coming years, the site is within walking distance of the new University of the Sunshine Coast Moreton Bay campus, express Petrie Train and bus services, parkland, wonderful local schools and churches, the Petrie Hotel and Woolworths shopping Centre. A new shopping precinct with Coles is coming soon also.

Offered for sale by its ORIGINAL OWNERS, this is a genuine chance to secure a HUGE parcel of land in the very centre of this rapidly developing area, where population growth and infrastructure is increasing at exponential speed!

Fully leased to permanent, quality tenants, this immaculate cavity brick complex has been incredibly well maintained, and has further potential for increased yields. Being just 650m from the University campus, there is exceptional investment opportunity for student accommodation here also.

The units have had regular maintenance and updates completed over the years and present to a very high standard. There is also opportunity to renovate and add value if desired. Each apartment features very generous proportions, and offers a large main bathroom with internal laundry, spacious lounge and outdoor sitting area, and one single adjoining carport. The bedrooms are all large and will accommodate at least a Queen-sized bed.

This property offers incredible value and opportunity to investors seeking a good yield, opportunity for increased value in a high growth area and mixed use redevelopment (refer to The Mill at Moreton Bay Priority Development Area and Moreton Bay Council). Based on its 2044m2 area, the site has the potential to accommodate a minimum of 15 multiple dwelling units and 300sqm of commercial/retail tenancies. **A development potential information report is available upon request.

This is your opportunity to secure a diamond investment at the perfect point in time!

QUICK FACTS:
Year built: 1980
Land size: 2044m2 (just over 1/2 acre)
Site Frontage: 19.41m
Development Scheme: The Mill at Moreton Bay PDA Development Scheme
Complex composition: 4 x 1 bedroom single level units and 8 x 2 bedroom two storey townhouse style
Current rents: for a copy of the current lease and rent per property please contact the selling agent Nick Thornton
Council rates: $5000 per quarter
Unity Water: $4500 per quarter
Insurance: $3125 per quarter
Maintenance: $2600 per quarter

Don't allow this to be an opportunity missed... contact selling agent Nick Thornton 0407 736 406