37 & 39 Kembla Street, Wollongong, NSWSold | $2,870,000
Adjoining, Approved Inner-City Boarding Houses!
Situated in the heart of Wollongong City, are these two fully approved boarding houses boasting a combined total of 39 rooms. The property benefits from a sensational rental return and has a total land area of 1,352m2 which provides untapped future development potential. An abundance of lifestyle conveniences can be enjoyed from a near "walk everywhere" address that would undoubtedly appeal to an astute purchaser. Develop, re-design or improve… the options are endless!
A full Information Memorandum is available by request.
• Predominantly level and well positioned 1,350m2 site on two separate titles
• Zoned R1 General Residential with a Floor Space Ratio of 1.5 to 1
• Generous 24 metre height limit
• Excellent development potential (STCA)
• Two operating boarding houses with a total of 39 individual rooms
• Excellent passing rental of $275,000 per annum gross
• Level 680 metre* walk to Wollongong Harbour
• Easy 450 metre* walk to major shopping centre