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SOLD

59-63 Pitt Street, Parramatta, NSW 2150

Properties / Sold / New South Wales / Parramatta

Development Potential

1. Property Summary

Property Type

Residential

Land Area

1,668 m² (*approx)

Selling Method

EOI: Closes 3pm 19th April 2018.

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2. Property Highlights

PART INCOME AND PART FUTURE DEVELOPMENT

A perfect site that holds potential for both childcare operators and builder developers alike. The rectangular 1,668m² approx. site is zoned R2 and permits dual occupancy and group housing. Rental of $1,098 per fortnight provides holding income while a DA is lodged to maximise returns from this prime position site. Planning controls under the Holroyd LEP and DCP include minimum Lot size 450m², 0.5:1 FSR and maximum height 9m.

Existing improvements include a heritage listed church, community/meeting hall, transportable 4 bedroom home and 2.5 cargarage. The land is reasonably level, and has a wide 37m frontage to Pitt Street. The site is well located approximately 2km from the Parramatta CBD, 400m to the M4 Expressway and right on bus services.

The opportunity is underwritten by strong end demand for childcare facilities or new semi/townhouses as per the recent development and sale of the neighbouring property.
Inspections by appointment only.

EOI closes 3pm 19th April 2018.

Contact Agents:
Andrew Graham
0412 448 455

Michael Sullivan
0412 623 773

Remember to mention you found this property on Developmentready.com.au