1-4/14 Yacaaba Street, Nelson Bay NSW 2315

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Property Details

$1,280,000

ID: 183519
Council Rates: $778.00
Water Rates: $676.00
Land Area: 590 m²
Zoning: B2 Local Centre

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REMARKABLE RARE SITE IN CBD!!

This block of approximately four (4) Torrens title units presents a strong investment opportunity or potential development proposition nestled in the centre of Town. Just a stroll down the road will take you to the delightful restaurants, popular cafes or business and shopping district brimming with all the necessities. Nelson Bay is seeing an increased amount of investors, developers, tourists and retirees making the demand for accommodation within the area at an all time high.

Nestled on a 590sqm gently sloping block with potential to knock down and rebuild a development (STCA). Each unit comprises of two (2) Bedrooms and one (1) Bathroom with a fantastic gross rent estimated $50,960.00 per annum. The units have been long term rental properties with the Property Management team ensuring that each property is well-maintained by its current tenant. This lot is zoned B2 Local Centre with potential for redevelopment, the Council is keen to attract more developments in the CBD due to property market being increasingly on demand and will release a revised strategy for the CBD early 2017.

Take a hold of this fantastic opportunity for the astute investor or potential developer who has an eye for the future of Port Stephens. Please contact Michael Kirby for more information on the potential redevelopment (S.T.C.A).