A Rare Opportunity Combining Immediate Rental Income with Exciting Development Potential
Positioned on a substantial 676² parcel of R3 zoning land, 4 Devlin Street presents an outstanding opportunity for investors, developers and astute buyers seeking a property offering both immediate rental income and significant future potential.
Adding to the appeal is the property's position amongst significant redevelopment activity, is the opportunity to acquire the adjoining property at 13 Maxwells Ave, jointly currently DA approved for a total of 7 townhouses, comprising a combination of attached duplex-style dwellings and freestanding residences.
Potential for Duplex Development
The substantial landholding provides an exciting opportunity to explore another potential development of duplex dwellings, with the possibility of incorporating studios or additional dwellings to each duplex, with the possibility of utilising the CDC/private certifier pathway where the proposed development meets the applicable planning and building requirements.
For the astute developer, the property may provide the potential to create a higher-yielding multi-dwelling development
Property Highlights:
• Generous 676m² landholding 18.9m frontage
• Existing 3-bedroom residence
• Currently leased at $540 per week
• Immediate rental income while exploring future development
• Potential to investigate duplex development
• Potential for studio or additional dwellings associated with each duplex, subject to applicable planning controls and approval
• Potential to utilise a private certifier/CDC approval pathway, subject to eligibility and compliance with all relevant requirements
• Option to purchase the adjoining property currently DA approved for 7 townhouses
• Approved adjoining development incorporates a combination of attached and freestanding dwellings
• Strong opportunity for developers, investors and land bankers
• Established Ashcroft location close to Liverpool CBD, schools, shopping, transport and major road connections
All development opportunities are subject to detailed investigation, planning controls, site requirements and approval by the relevant authority. Purchasers should make their own enquiries with Liverpool City Council and a suitably qualified planning consultant/private certifier regarding the feasibility and approval pathway for any proposed development.
Disclaimer: The above information has been extracted based on visual inspection by the agent/agents representing Richardson & Wrench Hinchinbrook and by information received from the client's and their legal representative. We have not verified whether that information is accurate, and do not have any belief one way or the other in its accuracy. All interested parties should make and rely upon their own inquiries to determine whether this information is in fact accurate.
