Plans & Pemits - $1800000

Description

Brief Description: The property is located on 11.66 hectares of land, the property was formally a gallery which has been transformed into a restaurant & conference area. The current owner has spent plenty of money refurbishing the existing building with new wet bar, upstairs facilities, new toilets, bedroom, outside pergola which can be used for summer BBQs. Permits: The owners intentions was to develop the apartments, the site has plans and permits for 37 apartments with an option of another 37 apartments in stage 2. We were selling the first stage of the units with a guaranteed rent back of 5% Nett for the first 3 years, 6% in year 4 & 7% in year 5. The owner was going to then lease out the restaurant and live off the income from the apartments. Price: The owner is looking for $5mil WIWO on the development, however the land has been subdivided into 3 lots which can be sold off separately. Accommodation: Healesville has huge growth in the accommodation area and therefore this development once completed will attract huge interest locally and overseas. The property is located opposite the sanctuary which attracts over 900,000 visitors a year. There has been a sworn valuation completed showing occupancy rates on the yarra valley and this development. What you are buying: Approx 18 acres with plans & permits for 37 apartments, plenty of land under the lease for another 37 apartments, (max of 75) full engineering drawings, working drawings, all leases have been signed, all documentation in relation to the sale and lease backs have been done, building permit has been issued and paid for, full surveyors reports and drawings completed.