45 Watsons Road, Sunbury, Greater Melbourne, VIC 3429

Property Description

A rare offering. A Development site within the approved Sunbury South PSP. Two thirds of the site is designated for a Regional Recreation facility which attracts a $15m Land Credit for a strategic developer or investor. The balance of the site is designated for residential development. Being adjacent to a major Regional Recreation facility, the residential component will support townhouse style development with an expected yield in the order of 60 to 80 dwellings. Alternatively, the residential component could be used for a retirement village or aged care facility. Development near the site has recently commenced, therefore acquisition timing is ideal. Terms of 12 months are also on offer which will enable time to consider the properties development potential to bring this investment opportunity to fruition. There is also a large house on the property with sheds that could be used for pre-development income or as a base for sales/construction.