An exceptional opportunity awaits developers, builders and astute investors in the highly sought-after suburb of Westbourne Park.
Positioned along Cross Road in Adelaide's established inner-southern suburbs, this exciting development site comes with Council-approved plans for a boutique residential project comprising 12 spacious two-bedroom apartments.
With an existing residential rental income of approximately $50,000 per annum, the property also offers the advantage of holding income while future development plans are considered.
## Key Development Highlights ##
- Development Approval Granted - Approved plans for 12 residential apartments, valid until July 2028.
- Spacious Apartment Designs - Each apartment features approximately 86-90 sqm of internal living area, with two bedrooms, two bathrooms, plus allocated undercover parking and outdoor spaces.
- Thoughtfully Designed Configuration - Six ground-floor apartments featuring private front and rear courtyards, complemented by six first-floor apartments with front and rear balconies.
- Boutique Two-Level Development - An attractive low-rise residential concept designed to appeal to a broad range of future residents.
- Existing Holding Income - Currently generating approximately $50,000 per annum in residential rental income. Current fixed-term tenancy expiring April 2027.
- Flexible Investment Opportunity - Develop, continue holding as an income-producing investment, or landbank for the future.
## A Convenient and Established Location ##
Situated in Westbourne Park, the property offers convenient access to local shopping, cafés, schools, public transport, and lifestyle amenities.
The location offers connectivity to Adelaide's CBD and southern suburbs, making it an appealing setting for a future residential development.
## An Opportunity Not to Be Missed ##
Development sites with an approved residential scheme and established holding income represent an attractive proposition for purchasers seeking to reduce planning uncertainty and explore future development potential.
Whether you are an experienced developer, builder or long-term investor, 143-145 Cross Road presents an opportunity worth serious consideration.
Contact us today for further information, approved development plans and to arrange an inspection.
Disclaimer: All information provided is believed to be accurate but has not been independently verified. Purchasers should undertake their own enquiries regarding development approval, approved plans, building areas, rental income, planning conditions and development feasibility. All development is subject to applicable approval conditions and statutory requirements.
Professionals Adelaide City - RLA 302284
