An exceptional opportunity for a developer to acquire a DA approved site for a four lot subdivision (2 x 640sqm and 2 x 770 sqm blocks).
The site is nice and level and has a preferred uniform rectangular shape. It comprises two adjoining lots with street frontages to both Rowan Avenue and Marsh Lane. The property has a total site area of approximately 2832 square metres. It is zoned R1- General Residential.
Two of the proposed four lots have existing dwellings and are therefore already connected to power, water and sewer mains. Both of the existing dwellings enjoy a north-facing aspect (both are currently leased). Number 4 is a two bedroom weatherboard cottage with a single garage returning $185 per week rent. Number 6 is a comfortable three bedroom residence with a double lock-up garage returning $239 per week rent. Both of the existing dwellings present an opportunity for further development.
The site enjoys an enviable position
a 550 metre stroll to the Uralla Golf Club an 18 hole, 70 par course with bar and restaurant facilities a 550 metre stroll to the Uralla Sporting Complex cricket, basketball, netball, soccer, football facilities etc Approximate 740 metres from the New England Highway 2 kms from the Uralla Central School 2.2 kms from the Uralla CBD with its fabulous array of pubs, cafes and boutique stores An easy 14 minute drive to the Armidale Regional airport A 20 minute drive to Armidale (shopping, public and private hospitals, University etc)
The Development Application was approved 27/06/2017 and lapses on the 27/06/2021 providing a great opportunity to acquire an excellent parcel of land now, prepare for a future development and receive cashflow from rental income in the interim.
It is worth noting that the Uralla property market is currently experiencing average rental yields of 5.9% (source: realestate.com.au - https://goo.gl/UvNXxm)