115 & 117 University Drive, North Lambton NSW 2299

By October 17, 2019

Unique development opportunity with easement, directly opposite University.

115 & 117 University Drive, North Lambton NSW 2299

624
$1,050,000 - $1,150,000

It’s a rare find these days to come across such a large parcel of land like this to add value on and design a new complex to meet the market demands. Located in a prime position directly opposite the Newcastle University where public transport is easily accessible, not far from Stockland Jesmond and approximately 15 minute drive to Newcastle CBD.

Zoning is low density residential and offers a combined land total of 1651m2 approx of land, the site has great potential to develop STCA. The street level sits higher with a gentle taper towards the rear right corner of 117, having an easement located in this corner is a huge selling point to combat the stormwater management of the site.

House 115 –
* 3 bedroom brick and tiled home.
* Polished floors throughout.
* Neat and tidy bathroom with separate toilet.
* Original kitchen in neat condition.
* Single drive through garage under house plus oversized double garage.
* Rental return of $385pw.

House 117 –
* 3 bedroom brick and tiled home.
* Painted throughout with new carpet only a few years ago.
* Storm water easement located in rear corner of block.
* Original kitchen in good condition.
* Single car garage that offers internal access.
* Currently tenanted to a happy family wishing to stay on. lease until 27/4/20 at $375pw.

Contracts can be emailed on request, it is recommended that buyers make their own enquiries with Newcastle City Council for development potential and conduct their own due diligence.

These types of opportunities do not come up very often so don’t hesitate making your enquiry today and start talking to your broker.

An onsite inspection can be arranged by appointment only, due to existing tenancies in place please allow more than 48 hours’ notice. For further information please contact the selling agent Chris Arnold 0419978606.

Disclaimer: We have obtained all information from sources we believe to be reliable, however we cannot guarantee its accuracy. Prospective purchasers are advised to carry out their own investigations.

Property Features
  • House
  • 6 bed
  • 2 bath
  • 4 Parking Spaces
  • Land is 1,651 m²
  • 4 Garage
  • Satellite
  • Street View
  • Transit
  • Bike
  • Comparables