Mortgagee Sale

91-95 Macintosh Street Forster provides an excellent opportunity for an owner occupier or developer alike to purchase a property with substantial improvements and substantial income potential. The existing improvements have been maintained in good condition and the income stream from the established business provides holding income for a developer or a solid base to commence business growth for an owner occupier.

* Superb Mid North Coast Location – Popular tourist destination with exceptional seasonal trade
* Substantial Improvements – 3 x studio units, 12 x 1 bedroom units, 8 x 2bedroom units and 1 x self contained 3 bedroom managers residence; inground swimming pool
* Development Potential – flexible zone permits multitude of commercial uses; existing improvements strata titled into 24 lots
* Generous Land Holding – Site area 3,184sqm (approx.); 70 metre frontage to high profile Macintosh Street
* Holding Income – Established income from existing motel business
* Compatible uses within the zone include, but not limited to, backpackers accommodation, boarding houses, child care centres, clubs, dwelling houses, home businesses, medical centres, multiple dwellings, places of worship, residential flat buildings, service stations and tourist facilities. Subject to (STCA)

Public Tender closing 18 December 2012
Contact: Janet Knott- 0402 467 918 or Matt Kearney 0427 921 206 – Knight Frank Newcastle

Property ID: 609995