An approved two-lot subdivision, a liveable three-bedroom home and several ways to unlock the potential at 24 Kentucky Street present an opportunity for developers, builders and investors to put their plans into action.
The seller has reduced expectations by $100,000 to move forward with his next project. Written offers are invited now, with price, conditions and settlement timing all considered.
Set on 1,163m², the property has Council approval for a 541m² front allotment and a 622m² rear allotment (Dual Occupancy Build Potential). The subdivision is approved but not yet completed, giving you the choice to finish and sell, build and retain, or develop in stages.
FOR DEVELOPERS-COMPLETE THE SUBDIVISION AND SELL
Approval is in place, and substantial preparation is complete. The sales pack identifies approximately $116,400–$118,400 in remaining works to reach titles, subject to exclusions and quotes.
Reported local land sales include:
Lot 111 Una Court-$665,000, marketed with dual occupancy potential.
35 Cudgee Street-$610,000, a rear allotment.
16 Pastor Way-$590,000, a 450m² allotment.
These provide useful comparisons for your feasibility, allowing for differences in size, configuration and development requirements.
FOR INVESTORS-RENT NOW, DEVELOP IN STAGES
The existing three-bedroom home is appraised at $580 per week, giving you holding income while you plan your next step.
The staged concept lets you retain and reposition the house, add a secondary dwelling on the front lot, and develop the rear with a house and secondary dwelling, potentially generating up to four rental incomes, subject to final design and applicable approvals.
FOR BUILDERS-CHOOSE YOUR PROJECT
Complete the subdivision and build on one or both lots, sell one and retain the other, or keep the existing house and focus construction on the rear.
The subdivision approval runs to approximately April 2030, providing flexibility to sequence the works around your resources and timing.
PREPARATION ALREADY COMPLETED
The owner records approximately $71,988 invested in planning, approvals, investigations, design, engineering, tree removal and other preparatory work. The sale includes house-relocation engineering plans.
GET THE PACK. RUN YOUR NUMBERS. PUT FORWARD YOUR OFFER.
A comprehensive sales pack brings the development pathways, approvals, plans, completed expenditure and remaining cost estimates together in one document.
Contact Jason for the pack. The seller is ready to consider an offer with the right price and terms.
Subdivision conditions and further works remain outstanding. Cost estimates include exclusions and are not fixed quotes. Development concepts remain subject to applicable requirements and approvals. Rental figures are appraisals, not guarantees. Buyers should complete their own feasibility and enquiries.
Disclaimer:
While council has approved 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.
