613-615 Pittwater Road, Dee Why

* Land size: 3,168m2
* DA approved for 80 rooms (75 double rooms & 5 single rooms)
* Potential Net Return once fully completed = $1,700,000 to $1,850,000 + GST
* Potential End Value = $30,900,000 to $33,600,000 (circa 5.5% Net Yield or 6.5% Gross Yield)
* Shovel ready development
* Site boasts 2 street frontages
* Opportunity to diversify your investment portfolio or development pipeline
* Beachside suburb with huge tenant demand
* Strong population and demographic trends
* Exponential rental growth and capital appreciation forecasts – with less than 1% 2099 rental vacancy rates and 9.7% rental growth in Sydney over the last 5 years
* Excellent long term cashflow opportunity
* Unique asset in key Northern Beaches location

Upstate, as the exclusive selling agents, are pleased to offer this outstanding DA approved development opportunity situated in the highly desirable and everchanging beachside suburb of Dee Why.

On offer is a very rare opportunity to acquire a large landholding of 3,168m2 in a tightly held pocket of Dee Why, an area that has been transformed over the recent years with its new revitalized town centre and shopping precinct. This asset provides astute developers and investors an amazing opportunity to purchase, develop and either rent and hold or on-sell as a completed asset with a strong rental return.

The site is strategically located within close proximity to the town centre, public transport, Dee Why Beach and Warringah Mall catering for the ultimate convenience the local population is after. The new Northern Beaches hospital, Warringah Mall upgrades, Dee Why Master Plan, Brookvale Master Plan, Dee Why PCYC, B-Line rapid transit system and proposed Northern Beaches tunnel, combined with a lack of development in the region have ensured that the Northern Beaches is a blue chip location for development.

Available on request via a shared link is all due diligence information including:
* Information Memorandum
* DA Documentation
* Consent
* CC Information
* Engineering Reports
* Floorplates
* CGIs
* Projected Income & Expenditure
* Contract

For any further information, please contact Vincent West on 0403 444 000, Peter Mosedale on 0408 177 207 or Oliver Rosati on 0428 877 888.