2 Coles Street, Arana Hills

An outstanding and lucrative opportunity awaits for a savvy investor, builder or developer to purchase this prime corner block location, complete with DA approval for a 5-townhouse or 8-unit development in the heart of Arana Hills. This burgeoning precinct is undergoing extensive gentrification and redevelopment making it a great time to develop and fully capitalise on the area's growth. The site itself is located on the corner of Coles Street and Grove Avenue, offering approximately 52m of frontage on a gently sloping block towards Coles Street. The elevated position is flood free and offers an optimal northern outlook which has been fully utilised in the design concepts. Currently featuring the original 3-bedroom house, you have the option to landbank and make some minor updates to meet rental market expectations or proceed with development by removing the existing dwelling. The current owner has undertaken all necessary work and expenses to secure two premium development applications, providing the purchaser with options based on their budget and building expertise. The first DA for 5 townhouses features 2 townhouses facing Grove Avenue and 3 facing Coles Street, with a mix of 2 and 3-storey designs. Alternatively, the second DA for 8 units caters primarily to the downsizer market, with six 4-bedroom units featuring over-sized balconies & a delightful northern aspect. Situated in Arana Hills, approximately 10km from the city, this location is the epitome of convenience making it a prime location to develop. Just 170m to the entry of Arana Plaza shopping complex, which includes Coles, Kmart, Aldi, café's & heaps more as well as a nearly finished brand-new swim school. Additionally, it's only 290m from the Kedron Brook Bikeway, making it ideal for outdoor enthusiasts. Grovely train station is just 1.5km away, and the Arana Leagues Club & West Arana Hills RLFC are within a 1km walk. For golf lovers, the well-regarded Keperra Golf Club is only a few minutes drive. Plus, this area boasts numerous walking tracks, parks, and green spaces, offering a desirable lifestyle for residents. Features: • Elevated corner block with approx. 52m frontage • Approved DA for 5 townhouses • Approved DA for 8 units • 170m to Arana Plaza complex entry • 3 bedroom house – could be rented with some work • Approx. 10km to the CBD • 290m walk to Kedron Brook Bikeway Don't miss out on this exceptional opportunity, for more information, please contact Elliott Brown and the team from Belle Property Everton Park. Please note EOI must be submitted in full by 4pm on 2nd July 2024. If you're interested in purchasing this property, submittting an Expression Of Interest (EOI) is easy and Elliott and team have all the documentation to assist so please reach out if you have any questions or would like any help.