The Property provides a total land area of 81.52* Hectares, elevated position, Designated “Residential” under Norman Road Residential Area Plan and located directly adjacent to established residential development.

– The level of enquiry has been lower than average for most campaigns at present. This is not unusual for sites in regional areas particularly raw sites with no approvals.

– The majority of feedback has been focussed on the steep nature of the site and the difficulty in the cost effective delivery of flat blocks. Most groups have indicated a strong preference to deliver slab on ground product which tends to be the staple offering for investment groups active in these areas. The potential for sloping blocks or the need to “bench” blocks will both impact on the cost of delivery of the product.

– Most groups have indicated that they have serious concerns about the exact yield that is achievable on the site given the previous refusal of the application submitted and the difficult nature of the site with a combination of constraints including slope, vegetation and overland flow all negatively impacting the potential yield.

 

Sale Analysis*
Method of Sale:Tender
Marketing Time Frame:7 Weeks
Total Enquiries:22
Total Realisation:$1,050,000