Fixed Date Sale – Contact Agent
- Closing 5:00pm Monday 5th October (Unless sold prior)
This is the type of opportunity investors, builders, and developers are constantly searching for-and rarely find - with so much groundwork already completed.
Set across a substantial 1,163m² site, 24 Kentucky Street has council approval to be divided into two lots, with a carefully considered development strategy that could create four separate rental incomes.
The plan is straightforward:
- Retain and reposition the existing three-bedroom house
- Add a secondary dwelling to the front allotment
- Develop a dual-key residence on the approved rear allotment
- Create four potential rental streams across two properties
The existing house can be turned, allowing for the rear development and then rented out.
This is far more than a large block with a development idea. Considerable time and money have already been invested in securing the approval and progressing the project.
Town planning, surveying, architectural plans, engineering, service investigations and substantial site-preparation work have already been undertaken. A more favourable amendment to the original approval has also been secured, giving the incoming buyer a significant head start.
For a builder or developer who can control construction costs, the project offers the opportunity to manufacture equity through development and retain a substantial multi-income asset upon completion.
Alternatively, the project can be completed progressively, providing flexibility around construction, finance and the eventual hold-or-sell strategy.
Key Opportunity:
- Council-approved two-lot subdivision
- Substantial 1,163m² site
- Existing three-bedroom house to be retained
- Potential secondary dwelling on the front allotment
- Dual-key development opportunity on the rear allotment
- Potential for four separate rental incomes
- Significant professional and site work already completed
- Detailed plans and supporting documentation available
- Opportunity to manufacture equity through construction
- Complete progressively or deliver the entire project
- Property currently vacant
Projected rental returns, the proposed dwelling configuration, lot layout, approval documents, plans, assessed charges and supporting reports are available to genuine buyers.
If you are an investor, developer or builder looking for a project where much of the difficult preliminary work has already been completed, this opportunity demands closer inspection.
Contact us today for the complete development and investment information package.
Disclaimer:
While council approval has been granted for the two-lot reconfiguration, the subdivision has not yet been completed or plan-sealed. All proposed buildings, configurations, uses, rental estimates and completed values are indicative only and are not guaranteed. The proposed secondary dwelling, dual-key development and four-dwelling rental configuration may require further council, planning, building, utility and regulatory approvals. Buyers must undertake their own investigations and obtain independent professional advice concerning approval conditions, feasibility, costs, services, rental returns and intended use. All information has been gathered from sources considered reliable; however, Stone Real Estate cannot guarantee its accuracy and accepts no responsibility for errors or omissions.
