22 Camperdown Street

Coffs Harbour NSW 2450

1483 m²

Block of units

Currently for sale - view listing

Overview

Prime Location - Invest Now, Develop Later...

An outstanding opportunity to secure what is arguably the best position in Coffs Harbour's Jetty precinct, commanding expansive ocean, island and Harbour views. Positioned in the heart of Coffs Harbour's Jetty precinct, just 150m to local restaurants and 400m to the beach, "Allambie Court" is a well maintained brick and tile apartment complex, comprising 7 apartments, reception area, basement carpark and in-ground pool. The building has had some recent upgrades, including a new roof, guttering, downpipes and landscaping. Some of the apartments have also been recently redecorated. Zoned R1 General Residential, the land size is 1,483.4 m2, providing a substantial footprint and a building height limit of 15.5 metres, allowing for a myriad of development options. (Subject to council approval). Development consent currently exists for demolition of the existing improvements and construction of 10 luxury apartments. The estimated gross rental income potential if fully tenanted is approximately $211,120 per year. This will assist with holding costs while you plan your development, or simply retain it as is. The building was previously a boutique Holiday Apartment complex as an alternative holding income option with a strong local need. Other options include strata titling or creating a dream location to live & enjoy yourself (subject to council consent). The Jetty precinct is the jewel in the crown of Coffs Harbour's LGA with a host of tourist, lifestyle and entertainment options, a marina and the historic jetty itself. The Jetty precinct also comprises the best selection of blue-chip real estate in the region. With a myriad of options and the combination of land size, zoning and location of this property makes this an attractive proposition to secure a prized coastal property on the Coffs Coast. Rates: $20,271pa (approx.) - Land size: 1,483m2 (approx.)