Property description

Existing building: One large house built around 1960, double storey, total floor area approximately 800 square metres, footprint approximately 400 square metres, partly used as offices.

Seller are highly motivated as the property would be ideally used residential units for a developer with a great eye. The property lends itself to further residential development and is zoned Residential 3, which would allow for multiple residential units of two storeys, up to a maximum of 27, though 8 would give a more congenial development with the trees and garden remaining intact. 

Development: Possible development: Shareblock/sectional title and possible subdivision to give 6 portions for new residential buildings plus 1 or 2 portions on which the current building is located, plus an access portion. This would give a residential development with 6 new houses to be built, with the existing building remaining. The access portion including common central area would be owned by a home owners association or similar.

The possible 6 new residential buildings could be double storey on a footprint of around 100 m2, say 12m by 8m. They would face north, each with a double car port integrated with the house. Sketch of proposed layout is enclosed. It could also be a possibility to demolish the existing building at some point and use the area for a further two new residential buildings of similar nature to the 6 ie giving 8 new residential buildings. 

Should this be a interest to you please dont hesitate to be in contact with broker!!!