Property Listings – NSW
For Sale. $33,600,000 (circa 5.5% Net Yield or 6.5% Gross Yield) • Shovel ready development • Site boasts 2 street frontages • Opportunity to diversify your investment portfolio or development pipeline • Beachside suburb with huge tenant demand • Strong population and demographic trends • Exponential rental growth and capital appreciation forecasts - with less than 1% 2099 rental vacancy rates and 9.7% rental growth in Sydney over the last 5 years • Excellent long term cashflow opportunity • Unique asset in key location
Dee Why 613 - 615 Pittwater Road
Price: $6,950,000
DA Approved Boarding House Site in Strategic High Rental Growth Corridor This outstanding DA approved development site of 3,168m2 situated in the highly desirable and everchanging beachside suburb of Dee Why. The DA approval consists of 5 separate buildings with accommodation of 80 boarding house rooms. This asset provides astute developers and investors an amazing opportunity to purchase, develop and either rent and hold or on-sell as a completed asset with a strong rental return. The site is strategically located within close proximity to the town centre, public transport, Dee Why Beach and
Warringah Mall catering for the ultimate convenience the local population is after. The new Northern Beaches hospital, Warringah Mall upgrades, Dee Why master plan, Brookvale master plan, Dee Why PCYC centre, B-line rapid transit system and proposed Northern Beaches tunnel, combined with a lack of development in the region have ensured that the Northern Beaches is a blue chip location for development. • Land size: 3,168m2 • DA approved for 80 rooms (75 double rooms & 5 single rooms) • Potential Net Return once fully completed = $1,700,000 to $1,850,000 + GST • Potential End Value = $30,900,000 to
Agents:
Vincent West 0403 444 000 Peter Mosedale 0408 177 207 Oliver Rosati 0428 877 888
View more about this property and see all our listings visit upstate.com.au
38 – April / May 2023
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