Potential 12 Apartment Site - New Woodlands Precinct Special Zoning!

Reduced to $1,100,000. Make an offer.
  • 31
Property for
Sale
Bedrooms
3
Bathrooms
1
Parking
4
Description
Great opportunity to capitalise on this prime position which offers the potential for 3 storey development with CBD Skyline views. Forget the usual density R codes that applied the past to this area as they do not apply to this new zoning which is 'Stirling City Centre Woodlands Precinct' (adopted by City of Stirling 21/04/2015). Refer to the Detailed Area Plan on the City's website and reference the City's Local Planning Scheme No.3 and the Stirling City Centre Structure Plan.
Development plans have already been approved under this zoning for the RHS adjoining lots 383 and 384 (street numbers 1 and 3 Liege Street) and demolition of the houses on those sites completed.
The property offered here will have underground power installed at zero cost to seller and buyer, and deep sewerage is already connected to the house. The immediate adjoining lot at 1 Liege Street - according to records - sold for $1.2M and may not have the extent of CBD Skyline views offered by 289 Pearson St plus has the additional cost of installing underground power which 289 doesn't have to pay.
The buyer has the choice to develop now, wait until the next door project is finished or 'land-bank' for future development. The house on 289 requires some cosmetic refurbishment but could be rented to return holding income. The purchaser may qualify as a foreign national to buy and develop the land subject to the requirements of the Foreign Investment Review Board Guidance Note 3.
Call Nick Hosking (Agency Principal) for a confidential discussion now.
Posted
Feb 22, 2017
Location
Country
Australia
State/Region/Province
Western Australia
Address
289 Pearson Street
ZIP code
6018
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