Two adjoining sites on offer
AN amalgamated development site with holding income in a prominent location at Caloundra is being offered for sale via auction by Ray White Commercial Caloundra.
The properties at 28 and 30 Bingera Terrace, Caloundra, are ideally suited to commercial, townhouse or mixed-use development (STCA) and are being marketed by Ray White Commercial Caloundra's Len Greedy and Alan Gray.
Mr Greedy said the adjoining lots are opposite the Caloundra Shopping Village which is home to Australia Post, BWS, a variety of specialty shops and anchored by IGA.
"This is a tremendous opportunity to purchase two adjoining properties with dual street access with the potential to provide strong rental returns and redevelop in the future," he said.
"The offering is close to the Council Chambers and Caloundra's Bulcock Street with its mix of cafes, retail outlets, banks, professional offices and other essential services."
Mr Gray said the total land area is approximately 1214sq m with 28 Bingera Terrace currently used as professional offices.
"No.30 Bingera Terrace is a surprise package as it has been tastefully renovated internally and is highly desirable as holiday rental accommodation.
"These properties are generating holding income of approximately $40,000 per annum. They are being offered in one line and represent a strong long-term hold with their redevelopment potential."
The properties will be auctioned in rooms on Thursday, October 12, at 11am (AEST), The Events Centre, 20 Minchinton Street, Caloundra.
28 and 30 Bingera Terrace
What: Amalgamated development site of 1214sq m in CBD
Features: Ideally suited to commercial, townhouse or mixed-use development (subject to council approval). Holding income of about $40,000 per annum
Price: Auction in rooms on Thursday, October 12, at 11am (AEST), The Events Centre, 20 Minchinton Street, Caloundra
Agent: Len Greedy and Alan Gray at Ray White Commercial Caloundra
Contact: 0401 691 807, 0414 894 084