DA Approved Boutique Development Site In Canberra's Finest Location
3 Melbourne Avenue, FORREST ACT 2603
Currently approved to construct 4 X 27.5sq (255m2) homes with recent council documentation stating a DA for 6 properties would be considered subject to meeting requirements.
With varying purchase options available upon negotiation, make no mistake, these reasonable vendors are selling! Currently standing on the square shaped 2554m2 corner block in the Parliamentary Triangle is a charming 1961 built 5 bedroom residence with 2 bathrooms, ensuite, multiple indoor/outdoor living spaces, 3 car internal access garage and in-ground pool. The existing residence is in a rentable state and with its self contained separate living downstairs could gain you 2 incomes leading up to construction.
Further Development Info
-Gross floor area of the 4 homes is 1024m2, each home positioned on average block size of 537m2.
-2 garages approx 50% below ground level, all other construction is generally ‘on grade’.
-As this is NCA land, there’s no CUC/LVC to pay, nor are there fixed commencement/completion deadlines.
-Stamp duty on $2,250,000 is $123,750 which could be claimed back accordingly if initially rented out.
-Past sales and currently for sale data suggests a gross realisation of the 4 properties to be approx $7million.
-STCA & maintaining same GFA, adding 16 car basement, gross realisation of 6 houses is approx $8million.
-Cleverly designed to provide all master bedrooms on ground floor, this will assist in achieving pre sales.
-Stunning facades, striking street appeal and thoughtful designs whilst maintaining economic ‘build-ability’. EER 1.5
NB. Whilst relevant due diligence was taken in obtaining the above information, it is purchasers responsibility to make their own investigations in regards to future development applications, related costs and figures.