Commercial - Sale

$835,000

Floor Area 232
Land Area 1,373

An excellent development and/or investment opportunity

This unique property in the heart of Lindisfarne comprises two circa 1910 weatherboard houses (each around 116m2) on a single title, formerly numbers 32 and 34 Wellington Road - 34 being on the corner of Wellington Road and Derwent Avenue. Under the Clarence Interim Planning Scheme 2015, the property is zoned "General Business". However, there are circumstances under the Scheme where residential use is permitted or at the discretion of the Clarence City Council. The property is presently leased to the Parkside Foundation with a lease in place until September 2020. The lessees have indicated that they would not be averse to negotiating vacant possession in order to move to larger premises. The corner house was formerly a doctor's surgery and retains many aspects of that previous use - a reception area and three offices. The bathroom has been completely renovated and re-plumbed. There is a further attic room upstairs presently used as a server room. There are eight parking spaces behind this building. A covered walkway links the corner house to the second house (formerly 32 Wellington Road). The second house retains its previous residential layout. There's a kitchen/dining room, bathroom, four offices (formerly a living room and three bedrooms) and driveway parking. The front verandah is enclosed. There's a large deck at the rear of the building and an easily accessible and large backyard. The total land area is 1393m2. There are a wealth of opportunities for this property: - A sound commercial investment with a lease in place for a further three years. - Separating the property back to its original two titles (subject to the necessary approvals and the cessation of the lease). - Further development of this large block. The property is not heritage listed. Such opportunities are rare in such a central location. Contact Edwards Windsor for an inspection if you are ready to buy.