5-13 Meikleville Street YEPPOON QLD 4703
$3,200,000

DESCRIPTION

This is a unique opportunity to acquire 6.67 acres of land in walking distance to the Yeppoon CBD; across the road from beautiful Farnborough Beach and yet mostly flat land on the elevated Meikleville Hill. The location provides great northerly aspect for the summer breezes and views over Keppel Bay and the Keppel group of Islands.
This parcel was amalgamated specifically for the development of 92 units in a design that would have set a new standard for the Capricorn Coast. Unfortunately, the Global Financial Crises (GFC) interfered with those plans and the site has since been waiting for the right time and the right project to occur. The zoning of the site is Residential R2 in the current town plan and should remain in a zoning with similar capacities in the new Town Plan. Because the site comprises eight (8) titles and five (5) residences which have all have been continuously rented, the owners have received holding costs and not been pressured to sell. However, retirement has necessitated the sale of this wonderful parcel.

The uses that the site can be put to are really only limited by imagination and budget. A large (e.g. 92 units) or a number of smaller unit developments, retirement village, nursing home, standard or small lot development to suit the new wave of quality lifestyle choices etc.

The site has frontage to Farnborough Road, both for the existing residences and the vacant allotment. A designated run off has been constructed with access and egress as well as block retaining wall. Found street also provides access and the services and pavement stops at the boundary and should be simple to extend. Two of the houses, the largest vacant allotment and the easement component of the Farnborough houses- have access to 5,7-9, 11 and 13 & Meikleville Street. Sewer and some stormwater drainage are already on site and discharge is easy and assured.