31A Peninsular Drive, Surfers Paradise, Qld 4217

Block of Units - Development Upside

31A Peninsular Drive, Surfers Paradise - 6 Units Entire Block of Units

Unit owners in this multi-unit block property have collectively agreed to combine their properties to form a single lot and offer the buildings and freehold land for sale in one line.

Freehold waterfront parcel 720m2 land size with high rise density zoning.

Unit 1 - 1 Bed (tenanted periodic no lease) $300 per week

Unit 2 - 1 Bed (tenanted periodic no lease) $300 per week

Unit 3 - 1 Bed Owner occupied

Unit 4 - 1 Bed (tenanted periodic no lease) $300 per week

Unit 5 - 1 Bed (tenanted periodic no lease) $300 per week

Unit 6 - 1 Bed Vacant

Opportunity for the new owner to renew leases at the market rate with most leases expired on periodic.

Market rents fully tenanted approx. $2,700 per week; annual market rent estimated at $140,400 per annum.

Council rates approx. $2,250 per Unit per quarter

Water rates approx. $260 per Unit per quarter

Walking distance to the vibrant Surfers Paradise cafe/dining scene, Paradise Centre shopping and high street retail precinct, and the world-famous Surfers Paradise beach, surrounded by excellent amenities, GLINK light rail service and multiple public transport options.

This waterfront property is a rare investment opportunity - one to be proud to own. Don't delay as quality real estate investments of this kind offer fantastic upside and are tightly held.

Centrally located in the heart of Australia's top tourist destination, Queensland's Surfers Paradise.

For Sale by: Expressions of Interest closing 2pm Friday 14th June 2024