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DEVELOPMENT SITE

TWEED HEADS NSW - DA Approved Boutique Development Site - $12.8M - $2.8M Contracoin

$ AUD 12,800,000

We are proud to present to the market this development opportunity in the central area of Tweed Heads bordering Coolangatta locations. This carefully designed and planned development is arguably one of the finest looking buildings with a mix of 1, 2 and 3 bedroom apartments spread over 11 levels that will harbour magnificent views out towards the Pacific Ocean, hinterland and beyond and ready to market off the plan whilst working towards construction.

With the anticipated stage 4 light rail extension from the Gold Coast into the princess region of Tweed Heads makes for a quality living and lifestyle experience. The approved site is set over four titles of existing dwellings with current rentals in place over all four properties. Currently returning $119,340 per annum with a vacant flat to be offered for rent after renovations. (Previously rented for $17940 per annum)

Key Site Attributes:

* Amalgamated four dwelling frontage

*Land Area - 2,814m2

* Lot 7 (620m2), Lot 9 (677m2) Lot 11 (733m2) Lot 13 (784m2)

* Height 49.5 metres

* FSR - 4.5:1 * Zoning R3 Medium Density Residential

* Totally Centralised Location

* Holding income - $119,340 per annum. (Current unit under renovations with a further $18,720 per annum to increase holding income)

DA Approval:

Full Approval (NSW PLANNING)
95 units * Mix 1, 2, and 3 Bedroom Apartments
Multi-level basement parking
Architects - Tony Owen Partners (Sydney)

Location:

3 minute drive to local shops, cafes and takeaways and World Class Beaches - 3 minute drive to popular Twin Towns Services Club - 5 minute drive to local boat ramps accessing the Tweed River & Bar - 5 minute drive to all amenities including supermarkets, medical centres & restaurants - 5 minute drive to the M1 - 5 minute drive to the Gold Coast International Airport - 3 minute drive to the Tweed Heads Hospital - 3-5 minute drive to Tweed Heads shopping precinct (Central and South Tweed) - 2 minute drive to the stunning coastline of Southern Gold Coast Gateway Coolangatta - 3-5 minute drive to a number of local Pre-Schools, Primary /High Schools & Universities - 35 minute drive to Surfers Paradise - 50 minute drive to Byron Bay Secure your next project with full approvals within the high demand area for living in central Tweed Heads.

There is a current valuation available for this property, summary of valuation following:

Valuation Date: 7 February 2023. Direct comparison summary (primary approach) $11,400,000 to $13,300,000 (Valuation 1 based on a GFA and unit site basis) Financial summary (residual cash flow method) Net Development Profit $13,155,810 Profit and Risk Factor 21.11% Internal Rate of Return 23.14% $/Rate Per Site (95 Residential Units) $131,579 / site Market value Valuation Basis $12,500,000 “As is” current market site value with existing DA consent for the demolition of existing buildings and the construction of a 12 storey residential flat building containing 96 units and 3 levels of basement parking, tree removal, site consolidation and strata subdivision, Exclusive of GST.

This Quality Development Site on the NSW/QLD Border is available priced at $12.8M with the seller accepting $10M Cash + $2.8M Contracoin.

A copy of the current valuation and a comprehensive Information Memorandum of the proposed development project is available for developers/investors intending to carry out due diligence / feasibility on this development.

https://contra-global.com/properties/development-sites/tweed-heads-nsw-da-approved-botique-development-site-12-8m-2-8m-contracoin-10444.html

Jose Perez

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