Investors or Investor occupier take note.
What an amazing opportunity – there is definitely no better place in the country right now to build a house. With the state Governments expanded First Home Owners funding of $20,000 for any owner occupier to build a house, combined with the Federal Government’s injection of $25,000. This means there’s a massive $45,000 available, regardless if it’s your first or your 10th house.
With 2 existing cottages (both tenanted) PLUS Development Approval for 2 additional cottages at the rear of the property (plans available) all the hard work has been done for you – this is an opportunity not to be missed.
Development opportunities such as this are hard to come by – zoned General Business for mixed use, this 1175m2 property is perfectly located in the heart of Sorell – one of the quickest growing Tasmanian municipalities.
- Walking distance to Woolworths & Coles shopping centres, School, Banks, Chemists, Cafes, Hotels and Service Tasmania.
- 10 Minutes from Hobart Airport
- 25 Minutes from Hobart CBD
- Directly opposite park and visitor information centre.
- Gateway to the East Coast and the historical Peninsula
D.A. FOR ADDITIONAL 2 X 1 BEDROOM COTTAGES
– Plans available for viewing.
- Potential for possible holiday accommodation or
- Long term rental (mixed residential or commercial).
- Both the above rental options are in high demand, providing for a great return on investment.
- Potential weekly rental (todays market) of $600 – $640 per week.
EXISTING 2 COTTAGES
- 2 Bedroom and 1 Bedroom.
- Currently returning $620 per week.
- Opportunity to increase at lease renewal (OCT 2020).
- Current tenants keen to stay on.
There is also the added option of being able to Strata the cottages (STCA) or subdivide (STCA) adding even more value to this opportunity.
For the astute investor/investor occupier progressing this development will increase the yield return substantially given the options for rental. Four cottages on the one parcel of land on the main street of Sorell – makes for an excellent investment.
Please do not hesitate to contact me for further details.
To arrange your inspection, please contact our office using the Contact Agent link on this page and we invite you to download our free App (apple and android) from the App Store. Simply search for Raine & Horne Eastern Shore. We can notify you of new listings, inspection times and price changes as soon as they happen.
All measurements are approximate and details intended to be relied upon should be independently verified. The particulars contained in this advertisement do not form any contract. While care has been taken in its presentation, no representation is made and no responsibility is accepted for the accuracy of the whole or any part and interested persons are advised to make their own enquiries and satisfy themselves in all respects.
|R&H Suburb Summary||Houses|
|Number of sales||52|
|Median Rental Price||$490 p.w.|
|Change in Rental Rate (5yr)||40 %|
|R&H Suburb Summary||Units|
|Number of sales||14|
|Median Rental Price||$420 p.w.|
|Change in Rental Rate (5yr)||42 %|