Woodridge QLD 4114
LOOKING AT ALL OFFERS

DESCRIPTION

VENDOR READY TO MEET THE MARKET
AGENT TO SUBMIT ALL OFFERS

This is an ideal DA Approved development site for a hotelier or savvy investor that stacks up.

Located just 1 minute walk from Woodridge Station, Associated Realtors has pleasure in offering for sale by private treaty a double block at 2-2A North Road & 69 Station Road, Woodridge. The subject property is being offered to the market as a DA Approved Hotel & Mixed-Use Re-development Site. The project offers a variety of selling and/or leasing options for the developer of this unique development site.

The DA Approval consists of a Hotel with 10 attached Hotel Units on the Third Floor, 20 individual Residential Units on the First and Second Floors, and commercial and restaurant letting spaces. The layout is the same for the 20 Residential Units on the First Floor and the Second Floor.

The DA Approval also includes a Hotel Function Room and Restaurant of 212m² and a commercial letting space of 638m² spread over the Basement and Ground Floors besides proposed additional areas for a live music venue and street frontage restaurants.

The subject property encompasses approximately 1,998m² of land with an existing commercial property comprised of 9 units that are all leased. Net return on the fully let existing property is approximately $52,000 per annum providing an attractive holding income.

Property Code: 65