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11 Park Street
Merewether NSW 2291

7 Beds 2 Bath 2 Car

Dual Income, 2 Properties on 1 Title. Renovate, Rebuild or Develop this Large Beachside Block.

Just 600m from Australia's best city beach with stunning coastal walks, the ocean baths and lively beachside bars and eateries close by, this 690.5sqm landholding with approximate 15.24m frontage presents as a highly lucrative real estate prospect in a blue-ribbon location.

Multi-generational families will be interested in the two separate properties on site, investors will be impressed by the potential for dual income streams, and developers will see the exciting potential in a luxury new home or dual occupancy site.

Providing an interim rental opportunity whilst plans and permits are finalised for future development, the block currently occupies a tidy 4-bedroom home with scope to renovate and add value, while at the rear, a 2-bedroom granny flat is returning approximately $34k per year as a beachside Airbnb property.

- 690.5sqm block with approximate dimensions of 15.24m X 45.72m
- Two storey 5-bedroom home is comfortable with scope to renovate and add value
- 2-Bedroom granny flat at rear currently currently let at $500pw
- All rebuild or development work is subject to approval from Newcastle City Council
- Coveted location 600m from the Merewether beachfront and iconic ocean baths

Disclaimer: All information contained herein is obtained from property owners or third-party sources which we believe are reliable. We have no reason to doubt its accuracy, however we cannot guarantee it. All interested person/s should rely on their own enquiries.

Outgoings

Council rates are approximately $4300 per year
Water rates are approximately $805.74 per year

Sold For

$2,100,000

Sales Agents

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