35 Seagull Avenue

Mermaid Beach, QLD, 4218

  • 9bed
  • 4bath
  • 3car

Expressions of Interest Closing 5/12/19 at 12pm

REDEVELOP, INVEST OR LAND BANK IN A PREMIER LIFESTYLE LOCATION

Not often do opportunities like this present themselves to market where you can secure an entire building in a premier lifestyle location in one of the Gold Coast's most sort after beachside suburbs.

Immersed in the charming village ambience and currently comprising of four income producing flats, while set perfectly on a 405m2 beachside block with 12.6m street frontage. Maximise the building footprint and utilise the full scope of the building envelope to create an impressive statement on the beachside landscape with a designer masterpiece or retain the two storey building for passive returns.

A choice of Mermaid Beach's popular cafes is literally a meander away. Located a short walk from the beach and situated just 200m from Nobby's Beach Surf Club, and less than 250m from the vibrant Nobby Beach Village precinct, with an abundance of cafes, restaurants, boutiques and bars and only 250m from public transport.

- Block of four income producing units
- Unit 1 - 2 bed 1 bath 1 car currently leased until 30/10/20 @ $340* pw
- Unit 2 - 2 bed 1 bath currently leased until 5/2/20 @ $280* pw
- Unit 3 - 3 bed 1 bath 1 car currently leased until 19/10/20 @ $380* pw
- Unit 4 - 2 bed 1 bath 1 car currently vacant - previously leased at $340* pw
- Current structure is circa 1974 and in original condition
- Ripe for redevelopment, build a new beachside masterpiece or luxury duplex pair**
- Flat level block 405m2* with 12.6m* street frontage
- Gross rental return $1,340* per week or Approx $69,680* pa
- Combined GCCC rates Appox, $4,700* (1 July - 31 December 2019)
- Combined GCCC water rates Approx $1,120* (per quarter)
- 200m* from Nobby's Beach Surf Life Saving Club
- 250m* from the vibrant Nobby Beach Village precinct
- 250m* from public transport and the proposed stage 3A light rail station.

The property is being sold via an Expressions of Interest campaign closing 12pm on December 5th (if not sold prior)

Redevelopment under the current town plan is classed under Medium density residential, Zoned RD5 - 1 bed per 50m2 net site area with the building height 3 storey (up to 15 metres). To satisfy your due diligence, we recommend calling Town Planning at Gold Coast City Council on 07 5582 8211 or consult a local town planner.

Disclaimer: This property is being sold without a price and therefore a price guide cannot be provided. The website may have filtered the property into a price bracket for website functionality purposes.

* Approximately
** Subject to council approval