113-119 Mitchell Street, Parkes presents a rare and substantial development opportunity in the growing heart of Parkes, offering approximately 8,094 sqm with future development potential.
Currently returning $330.00 per week in rental income, the property features a versatile 3 bedroom, 2 bathroom residence with a flexible floorplan designed to offer both generous space and adaptable living options. With three separate living areas, two of which can serve as additional bedrooms, the home provides outstanding adaptability for large families, independent living arrangements, extended family or dual-living potential. One section of the home includes its own separate entrance, laundry and bathroom, adding even greater flexibility for buyers seeking space and versatility.
From a development perspective, the property offers exciting scope with an approved DA already in place for a two-lot subdivision comprising:
• One lot of approximately 750 sqm containing the existing residence
• One lot of approximately 7,344 sqm
There is potential for further subdivision opportunities (subject to council approval), with proposed lot sizes ranging from approximately 650 sqm to 805 sqm, making this an exciting prospect for developers and investors looking to capitalise on Parkes' continued growth.
Additional development considerations include established stormwater access provisions, which may assist in streamlining future development infrastructure requirements.
Key Features:
• Approx. 8,094 sqm landholding
• Currently leased at $330.00 per week
• Flexible home layout
• Multiple living zones and separate access area
• Approved DA for 2-lot subdivision
• Potential future 9-lot subdivision (STCA)
• Development potential
Whether you're looking for an immediate investment, a future development site or a large flexible residence with room to grow, 113-119 Mitchell Street delivers endless possibilities.
Contact Jim O'Donoghue on 0461 441 567 today.
