Margate 1 McCulloch Avenue

A superb 1033sqm of development opportunity on beautiful Margate Parade has become available for the opportunistic buyers who would love to take advantage of this prime beach-side location and it's surrounds.

The current building features five tenanted flats and returns approximately $49,200 per annum, features 12 existing car parks (providing a great bonus for those wanting to re-instigate the retail/shops component on the ground floor and has a north-easterly aspect with 30m water-front frontage & 39m road frontage.

Zoning on the block is mixed residential, allowing for 12 metres or three storeys in height - perfect for a new block of luxury apartments to take advantage of sandy Margate Beach across the road and Redcliffe Seaside Village just minutes away!

5 Flats - $49,200 per annum returnsRetail outlet on ground floor1033sqm block30m frontage to Margate Parade & waterfront39m frontage to McCulloch Avenue - street access12 existing car parks on propertyZoned mixed residential (3 storeys/12 metres)Just blocks to Margate Village shopping precinct & minutes to Redcliffe Seaside Village hub
This opportunity is scarce in a location like this - take a look at the surrounds and the beautiful Margate Beach across the road - this will never be lost and guarantees strong interest for future plans whether it be sub-dividing, redeveloping into apartments or renovating the existing dwelling.

Property Information

• Land area approx 1033sqm

Property Features

• Carports 10