Townsville City, Queensland

2510MF - DEVELOPMENT OPPORTUNITY WITH HOLDING INCOME AND OCEAN VIEWS

Freehold $4,950,000

Property Description

This is the perfect location for you to develop with water views as far as the eye can see to Magnetic Island and beyond.

- Current zoning allows for at least a five storey building.

- Located on Townsville’s iconic The Strand.

- Large Freehold complex on two titles with two street access- total of 2,625m2.

- Currently run as a motel with 15 fully self-contained townhouses / units.

- Impeccably kept with recently upgraded pool and spa, plus undercover barbeque area and lock up storage sheds.

- Current owner's residence at the front of the complex has four double bedrooms and Magnetic Island views.

This property has been owned by the same family for 27 years and they are looking to finally retire. This once thriving motel business has been allowed to slow down as income is not the most important factor for the family now.

The owner may be willing to sell the titles separately, with Title 1 (1,613 m2) on The Strand and Title 2 (1,012 m2) on Mitchell Street.

With recent sales on The Strand this package deal stacks up beautifully.

This beachfront property presents a golden opportunity for an astute buyer to rejuvenate the business with some modernising OR re-develop this never to be repeated prime location.

Don't let this be the one that got away!

Contact Tony Johnson from Tourism Brokers for further information or to arrange an inspection.

Property ID: 2510MF (quote when enquiring)

Property Code: 3327

Property Summary

Motel Information

Marketing Agent
Tony Johnson
Tony Johnson

Listing location
Gallery

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