Property Sold in 37 & 39 Kembla Street, WOLLONGONG NSW, 2500

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 1,352sqm 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.

Key Features
- Predominantly level and well positioned 1,350sqm 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

For more details, please email agent