Nestled in a prime location 400M/6min walk to Padstow station. These two separate original cottages, offered in one line, present an exceptional development or investment opportunity on corner position. 19 Banks is a 7-bedroom, 2.5-bathroom home with 8 parking spaces & a single lock-up garage, while 21 Banks is a 4-bedroom, 2-bathroom home with 5 parking spaces including double lock-up garage.
Both homes sit on approx. 695.6 sqm blocks each, boasting 15.24m frontages each. Whether you're an investor seeking a valuable land bank or a developer wishing to capitalise on a fantastic location, this property offers significant potential for expansion or future growth. With possibilities to create a set of CDC approved duplexes, daycare centre, unit development or approx. 45 boarding homes - subject to council approval (STCA), the opportunities here are immense. Zoned R4 with 4 storey height limit with a 1:1 ratio or potential to capitalise on future growth with transport orientated development plan (TOD) from NSW Government.
Currently both tenanted with a combined rental of approx $1,500 per week - $78,000 Per annum. Just minutes away from Padstow amenities, these homes are just under 50m to Padstow Park, 300m/6 min walk to Padstow station, m5 motorway and 400m to the shopping conveniences of Padstow village.
Features include:
- Sold in one line, combined land size of 1,391.2sqm (695.6sqm Each)
- Combined frontage of approximately. 30.48m (15.24m Each)
- Rare and expansive, perfectly located for a childcare (STCA)
- Dual CDC approved occupancy x 2 freestanding luxury homes (STCA)
- Potential to capitalise and build approx 45 Boarding homes (STCA)
- Currently Tenanted combined rental of $1,500 P/W - $78,000 P/A
- Zoned R4 with 4 storey height limit with a 1:1 ratio
- Future growth with (TOD) from NSW Government.
- 19 has 7 bed, 2.5 bath, 8 car, 21 � 4 beds, 2 bath, 5 car
- Ample driveway space, large rear yards, pool, spacious living areas
- Ideal location 400m/6 min walk to Padstow station & shops
Disclaimer: All information contained herein is gathered from sources we believe reliable. We have no reason to doubt its accuracy, however we cannot guarantee it. All interested parties should make and rely upon their own enquiries.
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