Discover an exceptional development prospect at 42 Naval Parade in the picturesque Erowal Bay. This expansive property sprawls across 1926 sqm block and holds full Development Approval (D/A) for an impressive 15-unit complex. The development plans includes two luxurious penthouses and two versatile commercial premises and a car park, setting the stage for a lucrative project. Here's what makes this opportunity truly remarkable: Situated directly across from the waterfront, this property offers breathtaking water views and provides convenient access to Erowal Bay's tranquil waters. Remarkably, it is the sole commercially zoned property in the immediate Erowal Bay area, offering unique prospects. Generous Land Size: 1926 sqm of land. This property comes with approved D/A in place, making it an enticing option for developers eager to kick-start a project immediately. The approval encompasses two penthouses that offer uninterrupted water views, promising luxurious coastal living, and two commercial premises that hold potential for various business ventures. The architecturally designed and developed plans for the proposed unit block are thoughtfully and purposefully created, with an ecologically friendly approach that harmoniously integrates with the natural surroundings. Erowal Bay is renowned for its natural beauty, providing a serene coastal setting ideal for seclusion, relaxation, and outdoor activities. The area is surrounded by some of the finest beaches, including Hyams, Huskisson, and Vincentia. Erowal Bay and the surrounding beach suburbs are highly sought after and while significant development has occurred in the surrounding areas, Erowal Bay has remained untouched. This presents a rare opportunity to be one of the initial developments within the suburb and capitalize on the early stages of growth. Investment Potential: This property presents a lucrative investment opportunity, given the high demand for waterfront properties and quality accommodation in the region. Its close proximity to schools, shops, and recreational facilities ensures a convenient and desirable lifestyle for future residents.