Property ID: 1P0738

9 Reddan Avenue Penrith NSW

$1,700,000
  • Development
  • For Sale
  • 1056 sqm
  • R3 Medium Density
DA Approved Boarding House
If you were going to pick your ideal location for a boarding house this would be it. Situated in a quiet residential street, this position enjoys easy walking distance from local shopping & public transport and is located only a few hundred metres from the hospital, yet miles away in terms of lifestyle. The growth of The Quarter precinct in the surrounding area provides built up demand for affordable accommodation & will do for many years to come. Stage 1 of the $1 billion Hospital upgrade is nearing completion creating literally hundreds of new, highly skilled jobs. Western Sydney Airport is well in to construction - creating even more high skilled jobs nearby. The design represents a quality development which will create a much more liveable experience for the residents. Ideal build to rent investment at a time when vacancy rates are at all time lows.

Description
• Modern design Boarding House
• DA Approved for 24 boarding room's plus on site managers unit
• Incorporates basement parking
• Gross income projection of $348,400 Gross P.A
• Prime location in quiet residential street
• Nepean Hospital within 400 metres
• Parking allocation includes 13 vehicles, 6 motor bikes & 6 bikes
• Large well designed communal room
• Desperate need for affordable housing in the area
• Record low vacancy rates

Executive Summary
• Lot 55 DP 29662
• Consent granted 20/11/20
• Zoned R3 medium density residential
• 8.5m height lim
• 10 x single rooms
• 14 x double rooms
• 1 x on site managers unit

Disclaimer: We have been furnished with the above information however, PRD Penrith gives no guarantees, undertakings or warnings concerning the accuracy, completeness or up-to-date nature of the information provided. All interested parties are responsible for their own independent enquiries in order to determine whether or not this information is in fact accurate.

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