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mackaySHOAL POINT BEACH, MACKAY DEVELOPMENT INVESTORS ALERTINVESTMENT 19/6/2010

Valuation is $5.25M
Valuation with DA $7.25M no DA currently however the works done
Fire Sale asking price $4.5M beat the auction October 16th, 2010!

  • Vendor would like to stay in the house for a period of time and maintain it their our cost paying for rates etc
  • All DA work will be included and given to the new owners.
  • Vendor will assist in development if required
  • Higher contact price available

This is a take it or leave it offer the needs to be taken up today. The bank has sent notice. The vendor can not lose their credit rating so its urgent. $4.4M is the bottom line as they have to pay out their 3 mortgages, arears, rates and other expenses.

DEVELOPMENT of 268 Shoal Pt Rd, Shoal Point, Mackay QLD 4750

The development will consist of:

Lot 1 - 4 townhouses with ocean views

Lots 2, 6, 7, 8 & 9 - Land ONLY (Lot 2 - ocean views, bal beachfront)

Lot 3 - 2 x Duplex with ocean views

Lot 4 - Retained by developer with ocean views [with 1 dwelling & approval for 2nd]

Lot 5 - 8 townhouses with ocean views

plans

TIMELINE

  • DA approval will be a maximum of 6 months from commencement.
  • Operational Works commencement would start prior to the approval being given by discreetly 'landscaping' within the site.
  • Entire timeframe from the day of depositing the funds to settlement of the completed product will be an absolute maximum of 18 months.  Allowing for extreme weather conditions.
  • Developer has all the consultants ready to start immediately.
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268 Shoal Pt Rd, Shoal Point, Mackay QLD 4750

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