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505 Drummond Street South
VIC, 3350


Sold for $365,000

listing rooms 4
listing bathrooms 2
listing parking 6
Land: 1170 sqm

Elusive Development Opportunity

Close proximity to Ballarat CBD and a rare offering with full planning approval for a 2 lot subdivision (Planning Permit No PLP/2011/007)
This development comes with plans for a comprehensive renovation of the existing home and a complete set of plans for a 4 Bedroom Home of approx 26sq that can be constructed on the rear allotment. Alternatively renovate and extend the original home and convert the Large Shed into an income producing Modern Apartment.
This is a unique scenario where you can purchase now and enjoy the rental return of $385pw on a fixed term lease while you plan your building schedule. These are stable long term tenants happy to stay as long as they can.
Developers have a readymade project as all of the planning and design has been done; start when it suits you.
The existing home has loads of potential and the prospect of a simple 2 lot subdivision will attract a host of potential buyers to this rapidly evolving location. These unique development opportunities are now more difficult to secure within close proximity of the City Centre.

Please contact Don Hanlon for a complete memorandum of information, sewer plans, technical drawings and access arrangements


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