39 Sandy Beach Road, Korora, NSW 2450

The Phone Code for this property is: 54242. Please quote this number when phoning or texting.

BEACH-SIDE INVESTMENT / DEVELOPMENT OPPORTUNITY

39 Sandy Beach Road Korora Bay

This prime block of apartments, sitting on a 1,102m2 site just metres from sand and surf in Korora Bay presents a rare buying opportunity in one of the Coffs Harbours premiere suburbs.

> Excellent opportunity for extended families to buy in together each with there own title

> An investors dream with long term tenants and future Development opportunity

> A Development site second to none (the Eastern seaboard is running out of premier beachfront sites (This site has everything)

Currently occupied by a block of five, single-storey and 1 second story Apartment, this amazing address offers residents a highly desirable walk-swim-surf-about- lifestyle, where dog friendly beaches, coastal walks an amazing cafe onsite with a range of dining options within 12 minutes from the doorstep.

Each of the existing Apartments are currently tenanted, providing a new owner the option to land bank with a holding income until they are ready to capitalize on the site's full potential.

DA discussions with Council

We have under taken discussions with Coffs Harbour Council to look at what an application for a DA would look like, as well as discussions with our Architects and Town-planners. Council has proposed a favorable journey through the approval process to build up to 8 Luxury multi-level Strata Titled Apartments.

The proposed redevelopment of the site proposes 8 three to four-bedroom apartments spanning 200m2 plus, with a Cafe /Boutique restaurant built into the Development owned by the residents with the rent servicing the sinking fund etc.

In addition it is proposed to include an infinity pool, kitchen and entertaining space on the rooftop with exclusive use rights to some of the Apartments TBA

Also included in the plans are a communal pool immersed in lush, landscaped gardens, and a sixteen -car basement for resident parking. All of the proposed apartments showcase mesmerizing and spectacular uninterrupted ocean views, looking out on the Solitary Islands and natures wonder of the twice a year Whale highway

This high-growth locale delivers front-row access to the lifestyle precincts of Coffs Harbour Jetty, - The very Big Banana, The Dolphin sanctuary - Park Beach - Plaza and Home depot to name jut a few

The Highlights:

- Development opportunity in premier beachfront suburb

- 1,102m2 site of prime absolute beach front living and within minutes of the lifestyle precincts of Coffs Harbour

- Opportunity to initiate DA plans for a boutique, three -level building designed by well respected - local architect responsible for beautiful, buildings within the coffs Coast's beach-side suburbs

_ Coffs Harbour Bypass is well underway to be finished in 2026 diverting 12,000 cars and trucks around Coffs Harbour per day

- An excellent airport with flights to Sydney Melbourne and Brisbane

- Russell Crowes $400million Movie and film studios currently in planning to be Built near Korora Bay Apartments

- Potential to earn a holding income

- The block currently is a two level older style block comprising of six long term tenanted Apartments, each with a car space

- The current Rental income from the six Apartments is $176,800 per annum

- Korora Bay is a principal coastal suburb favoured for its relaxed dog friendly beach and walking tracks lifestyle.

- Patrolled beaches are just to the North being Sapphire Beach and to the South Diggers Beach (Approximately 10 minutes each way)

Please contact me for further details

Disclaimer:

Whilst every care has been taken to verify the accuracy of the details in this advertisement, For Sale By Owner (forsalebyowner.com.au Pty Ltd) cannot guarantee its correctness. Prospective buyers or tenants need to take such action as is necessary, to satisfy themselves of any pertinent matters.