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Coffs Harbour, 73 Ocean Parade

Prime Development Site - Beachfront Coffs Harbour

Sold for $1,860,000

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Sold
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Listing Number: NCH2287
About this listing
This prime beachfront residential development land 2043m2 (approx) situated on Ocean Parade is currently home to the Ocean Park Motel and is currently sitting on a 3 star rating with star ratings Australia. The Motel has 12 rooms + Manager's Residence.
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The property enjoys a brilliant location on the Beachfront in the tourist Hot Spot Park Beach which is fast becoming Coffs Harbour's property hotspot for Developments. Added benefits nearby include the Hoey Moey Hotel, Bowling Club, Cafes & a level walk to Park Beach Plaza the biggest shopping centre between Newcastle & the Gold Coast.
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The current rental return is $78,000 approx per annum + GST with management also looking after the outgoings. This is a standout offering with the beach at your doorstep.
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With many developments in the Park Beach precinct over the past few years such as Platinum Apartments 111 Ocean Parade in 2012 + 2015 the high-rise development of Equinox 87 Ocean Parade over 9 levels with 3 shops have proven that there is a spent up demand for future developments on the Beachfront in Coffs Harbour to cater for the people wanting the lifestyle of coastal living surrounded by the beach with flat level walks to amenities and attractions.
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More recently SeaShells a high rise development over 12 levels situated at 122 Park Beach Road near Equinox was launched and has had a major uptake of off the plan sales & is currently under construction which is due for completion in 2018.
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71-73 Ocean Parade provides for R1 Zoning with a height limit of 22 metres which applies to the 2043m2 allotment. The land allotment also has a rear lane which caters for multi level high rises. The zoning allows for a myriad of uses which include but not limited to: Tourism, Residential Developments, Entertainment, Clubs, Multi Dwelling Housing to name a few of the types STCA.
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Without doubt the Ocean Parade location is a prime spot on the Coffs Coast with great upside for growth and further developments to cater for the spent up demand.
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Current Configuration of the site comprises 13 units consisting of 4 x studios, 4 x 1 beds, 3 x 2 beds, 1 x 3 bed & 1 x 4 bedroom.
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An Information pack is available on the site & zoning and development opportunity.
Property Information
  • Land Size: 2043 sqm
  • Property condition: Good
  • Property Type: Apartment, Block of units
  • Garaging / carparking: Off street
  • Electrical: TV aerial
  • Property Features: Smoke alarms
  • Laundry: Separate
  • Aspect: East
  • Outdoor living: Entertainment area (Covered and Concrete), Pool (Inground and Security fencing), BBQ area (with lighting and with power), Deck / patio
  • Fencing: Fully fenced
  • Land contour: Flat
  • Water supply: Town supply
  • Locality: Close to schools, Close to shops, Close to transport

Contact Details

Harcourts Coffs Harbour

Suite 1 - 15 Orlando St
Coffs Harbour
Office website

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