A rare opportunity to secure a premium development site in one of Lake Macquarie's most scenic and highly visible locations.
Zoned E1 Local Centre, this site is ideal for commercial development and mixed-use projects. A previously lodged Development Application (DA) proposed shop top housing, including retail spaces on the ground floor and two levels of residential units above showcasing the site's versatility and potential.
Key Features:
- Zoning: E1 Local Centre (allows for a wide range of commercial and mixed-use development)
- Views: Panoramic views of Fennell Bay and Lake Macquarie
- Location: High-exposure area with strong foot and vehicle traffic
Current Improvements:
- Residential Dwelling: 3-bedroom house, currently tenanted
- Rental income: $450 per week
- Commercial Kitchen: Situated on the property
- Currently on a periodic lease, returning $300 per week
- Market rent potential: Up to $500 per week on a long-term lease
Investment Highlights:
- Dual income streams already in place
- Opportunity to increase commercial rental return with a long-term lease
- Strong future development upside with a proven DA concept
- Sought-after location with picturesque lake views enhancing value and appeal
This is an ideal opportunity for developers, investors, or owner-occupiers seeking a property with strong holding income and significant long-term potential.
Disclaimer:
All information provided by Presence Real Estate in the promotion of a property for either sale or lease has been gathered from various third-party sources that we believe to be reliable. However, Presence Real Estate cannot guarantee its accuracy, and we accept no responsibility and disclaim all liability in respect of any errors, omissions, inaccuracies or misstatements in the information provided. Prospective purchasers and renters are advised to carry out their own investigations and rely on their own inquiries. All images, measurements, diagrams, renderings and data are indicative and for illustrative purposes only and are subject to change. The information provided by Presence Real Estate is general in nature and does not take into account the individual circumstances of the person or persons objective financial situation or needs.
