Burleigh Heads redevelopment site 4

Second house

Two Bedroom House - Sold -
This property is located on the second title (both blocks are 539m2 each) which is fully fenced and ready to rent.

Redevelopment site benefits
> One of the highest growth areas on the Gold Coast.
> Excellent transport facilities and close to schools.
> High capital growth potential.
> Close proximity to shopping centres & restaurants.
> Close proximity to major city.
> In high demand by letting agents.
> High quality lifestyle appeal.

Foreign Investment Review Board Information - Real Estate for Redevelopment (for offshore investors only)
Applications to acquire existing residences for redevelopment are considered on a case-by-case basis. Proposals approved under this category must provide for an increase in the housing stock, that is, an increase in the number of dwellings.

An amount equivalent to a minimum of 50 per cent of the acquisition cost or current market value (which ever is the greater) must be spent on the redevelopment of the site.
> The existing residence can not be occupied prior to demolition and redevelopment.
> Where the property is at the end of its economic life (i.e, derelict, uninhabitable) a proposal may be approved for the construction of one dwelling.
> To demonstrate that the property is uninhabitable and must be demolished, a valuation of the existing structures by a licensed valuer may be required. Photographs and other forms of evidence may also be required.
> Once construction is completed, parties notify the completion date and actual development expenditure.

Once these conditions have been fulfilled, properties acquired under this category may be rented out, sold to Australian interests or other eligible purchasers, or retained for the foreign investor's own use.

Site location North

Site location South

Main house

Second house

Burleigh beach

3 patrolled beaches

3 km of parkland

Beachfront dining

Across the road

Walk to shopping

Investment Information

Address: 1886 Gold Coast Highway
Redevelopment site: 1078m2
Zoning: Professional offices/Multi-units RD5
(one bed per 50m2 of site)
Inspection: By appointment

Rates approx: $1,200 pa. per property
Body Corporate: Nil
Rental return: (approx) $700.00 pw.

Purchase price: - Sold -

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