Legal Description: Lot 32 in Deposited Plan 573329

Zoning: Residential 2A Low Density Residential

Land Size: 4,994 m2

Property Description: Situated on the block is a 3 bedroom brick & tile home consisting of lounge and dining areas, original bathroom, laundry and screened sunroom. The property also has a Laminex kitchen, Westinghouse upright stove and reverse cycle split system air conditioning. There is also a double lock up garage and rear verandah area.
The block slopes downwards from the front to back with a creek running through the second half of the block.

Property Potential:
When carrying out this research we have looked at the following as options:

1. The property as a potential development site allowing for zoning and possible Local Government restrictions.
2. Keeping the property as is.

Research – Selling the property as a development site.

Comments:

The property as it exists offers a brick & tile residence on a large block with separate garages out the back, located on a large 4,994m2 block.
On further investigation it may be possible to sell the existing residence with modifications on a 450m2 parcel of land and subdivide the balance of the land into 450m2 dual occupancy sites. This, including the current dwelling, would potentially create 9 residences for sale. There may be some restrictions with the creek running through the land, and our consultants believe there would need to be a 2m setback on either side of the creek which could not be built on. This would be subject to approval via a DA process with Lake Macquarie City Council.

The site may accomodate 4 dual occupancies and also the single existing dwelling on a 450m2 block of land.

For Sale: By Expressions of Interest.

Restrictions of Zoning: https://www.lakemac.com.au/downloads/6D12E58284B8914D3B4A6BBBE2D27424BA5E1351.pdf

Disclaimer:

All information provided by Presence Real Estate in the promotion of a property for either sale or lease has been gathered from various third-party sources that we believe to be reliable. However, Presence Real Estate cannot guarantee its accuracy, and we accept no responsibility and disclaim all liability in respect of any errors, omissions, inaccuracies or misstatements in the information provided. Prospective purchasers and renters are advised to carry out their own investigations and rely on their own inquiries. All images, measurements, diagrams, renderings and data are indicative and for illustrative purposes only and are subject to change. The information provided by Presence Real Estate is general in nature and does not take into account the individual circumstances of the person or persons objective financial situation or needs.