5 & 7 Melbourne Street, East Gosford NSW 2250

This is a very rare development opportunity on the Caroline Bay side of East Gosford.

To be sold together or separately at auction, each cottage occupies 759sqm for a combined total of approximately 1,518sqm zoned R1 prime land.

The existing dwellings have been rented collecting a total of $50,000 p/a (approx.) and they present well enough to continue renting for a long-hold option.

The R1 zoning of the sites allows for development, with an existing approved DA for a total of 12 units. With a variety of other nearby developments selling for record prices, this could be a very profitable investment. A quality new unit complex here would be highly sought-after given that East Gosford shops, the Japanese Gardens, cafes and transport are all just moments away.

The current DA is for 6 units on each site, being a mirror-reverse of each other, with a combination of 2 x 2 bedroom & 4 x 1 bedroom units, designed by local and highly renowned White + Dickson architects. The DA approved plans are available upon request, or, following an online enquiry they will be sent automatically along with a comprehensive WebBook with further information.

To receive the detailed WebBook please email the agent. You will receive an immediate response. Please check your junk mail if you haven't received it.

5 Melbourne Street:
- Council Rates: $3058.57 p.a
- Water Rates: $720.32 p.a
- Land Size: 759sqm approx

7 Melbourne Street:
- Council Rates: $2920.57 p.a
- Water Rates: $720.32 p.a
- Land Size: 759sqm approx



DISCLAIMER: This advertisement contains information provided by third parties. While all care is taken to ensure otherwise Gittoes Leaders In Property does not make any representation as to the accuracy of the information contained in the advertisement, nor does it accept any responsibility or liability, and recommends that any client makes their own investigations and enquiries. All images are indicative of the property only.