PRIME SOUTH NOWRA RESIDENTIAL DEVELOPMENT SITE WITH B5 LAND BANK
SOLD |
|
|
| Sales Price |
$1,100,000
|
| Property Type |
Land/Development |
| Location |
South Nowra, NSW 2541 |
| Total Build Area |
0 M2 |
| Total Land Area |
81500 M2 |
| Zoning |
4A General Industrial |
| Car Space |
|
| Outgoing |
TBA |
| Property ID |
402 |
Enquire Now
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Description
This property is a prime R1 (General Residential) and B5 (Business Development) site. The R1 land is located directly across Old Southern Road from the very successful Twin Waters Estate - a classic 'infill' opportunity. The B5 land adjoins properties to the west along the Princes Highway.
The land is mostly cleared and has mixed zoning (R1 General Residential, E2 Environmental Conservation and B5 Business Development).
The R1 land can be developed immediately (STCA) and concept drawings have been prepared by SET Consultants of Nowra for either 17 housing lots, or 9 housing lots + 2 medium density sites. Buyers may also want to investigate maximising yield by developing medium density lots only. The concept drawings are attached as floorplans.
The total B5 land is circa 36,000 m2, of which 20,000m2 is estimated to be usable i.e. unvegetated. South Nowra is a strong, growing industrial and bulky goods corridor, ensuring constant demand for B5 zoned land.
The B5 land can be 'land banked' until access off Quinns Lane or the Princes Highway can be secured. Or it could be sold to an adjoining owner who can grant access through his or her land. Discussions with neighbours have commenced, the details of which can be shared with serious buyers.
Re the B5 land, a new access road is currently being scoped by the Shoalhaven Council. It will run from Quinns Lane to near the back of this property - bringing potential access closer. Details of the road can be further explained to serious buyers, and the proposed location relative to this land is attached as a floorplan.
Re valuation, as a minimum one can develop 17 residential lots, which at an englobo valuation of $40,000 each, gives a value for the R1 land of $680,000. At an asking price of $1.1m, the B5 land need only be valued at $20/m2 - which is very conservative.
For the right buyer, here is an attractive opportunity to buy, develop the R1 land and land bank or sell off a sizeable and attractive tract of B5 land.
The property will be sold in one line with a total area of 8.15 hectares or 20.11 acres, comprising of 2 separate lots:
- Lot 28/DP17310
- Lot 2/DP1065105
The neighbouring property to the north - 271 Old Southern Road - is also for sale, giving the potential to amass a larger site.
Inspection is by appointment. Please contact Philip Tacca on 0403 268 594.