Development Opportunity with excellent holding income. 70-76 McIlwraith Street SOUTH TOWNSVILLE QLD

Description

Aluka Property is proud to offer this development opportunity with excellent holding income in Townsville.

Situated within easy walking distance to the CBD, The Strand, QLD Country Bank Stadium and more, this property is perfectly positioned.

- Land Area: 2,454m2 combined over 3 Separate titles
- Proposed unit or hotel development site with allowances for 12 storey with approx. 80-100 units allowed within the new town plan (subject to council approval)
- The site is located within the CBD Fringe - restaurant and unit precinct, and a stones throw from the water
- Poised to take advantage of many heavy industry, mining and major infrastructure projects about to commence in Townsville area
- A project built on this site would likey have ocean and mountain views from the 3rd floor of the building
- The power & sewerage foundation has been upgraded from previous adjoining unit developments.
- The land is currently improved with 3x residential structures currently being utilised as affordable accommodation, providing excellent income (in excess of $100,000). P&L's are available upon request.

For further information, please contact exclusive market agent, Frank Munnich on 0439 766 812, or fmunnich@alukaproperty.com.au