7 Victoria Street, Teralba NSW 2284

Legal Description: Lot 32 in Deposited Plan 573329

Zoning: Residential 2A Low Density Residential

Land Size: 4,994 m2

Property Description: Situated on the block is a 3 bedroom brick & tile home consisting of lounge and dining areas, original bathroom, laundry and screened sunroom. The property also has a Laminex kitchen, Westinghouse upright stove and reverse cycle split system air conditioning. There is also a double lock up garage and rear verandah area.
The block slopes downwards from the front to back with a creek running through the second half of the block.

Property Potential:
When carrying out this research we have looked at the following as options:

1. The property as a potential development site allowing for zoning and possible Local Government restrictions.
2. Keeping the property as is.

Research - Selling the property as a development site.

Comments:

The property as it exists offers a brick & tile residence on a large block with separate garages out the back, located on a large 4,994m2 block.
On further investigation it may be possible to sell the existing residence with modifications on a 450m2 parcel of land and subdivide the balance of the land into 450m2 dual occupancy sites. This, including the current dwelling, would potentially create 9 residences for sale. There may be some restrictions with the creek running through the land, and our consultants believe there would need to be a 2m setback on either side of the creek which could not be built on. This would be subject to approval via a DA process with Lake Macquarie City Council.

The site may accomodate 4 dual occupancies and also the single existing dwelling on a 450m2 block of land.

For Sale: By Expressions of Interest.

Restrictions of Zoning: https://www.lakemac.com.au/downloads/6D12E58284B8914D3B4A6BBBE2D27424BA5E1351.pdf

Disclaimer:
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