Nowra Site Sold for $1.25 Million
A potential redevelopment site close to the city centre of Nowra in southern New South Wales has been sold by Ray White Commercial for $1.25 million with the purchaser now planning a multi-storey residential unit complex for the property.
The approximately 2,756 sqm land area at 65-69 Graham Street, Nowra, was sold to South Coast Property Development by Scott Baxter of Ray White Commercial Shoalhaven on behalf of a private investor.
Scott Baxter said the commercial allotments on the site will be demolished to make way for the proposed unit complex called ‘Central Park’.
“This site which currently has three single storey buildings has been leased to the Nowra Hydroponics and Pet Store, St Vincent De Pauls and The Everything store but the purchaser has plans for a unit complex,” Scott Baxter said.
“A development application for the 32 medium density units has been lodged with Shoalhaven City Council.”
Scott Baxter said the site offered an ideal development opportunity (STCA).
“This site is in the centre of Nowra and is strategically located between the Shoalhaven City Council Chambers and the CBD overlooking Harry Sawkins Park,” he said.
“The council’s Nowra CBD Revitalisation Strategy has prompted a lot of activity in the city centre.”