196 Woolcock Street,
Currajong, QLD 4812
Price on Application
Key property information
Map of 196 Woolcock Street
THE LAKES TOWNSVILLE CARAVAN PARK - DEVELOPMENT POTENTIAL WITH HOLDING INCOME
- Zoned Medium Density Residential
- Former unit development approval
- Going concern with holding income
The property is 4.0*km from the Townsville CBD and fronts Castletown Lake on its south-eastern boundary. Castletown Shopping Centre, a subregional shopping centre, is located on the opposite side of the Lake. The caravan park is incorporated in The Lakes Commercial Precinct. It adjoins Mercure Townsville Hotel and several food outlets including MacDonald’s, Zarraffa’s, Red Rooster along with Taco Bell which is currently under construction. Woolcock Street is the Bruce Highway entrance to Townsville CBD.
The total land area is 2.66*hectares zoned Medium Density Residential. Main improvements comprise of 87 ensuite caravan sites, 20 cabins / villas of varying style with 16 utilising detached ensuites, an administration complex with reception, linen storage area and 3-bedroom owner / manager’s residence upstairs. Attached is a second high-set, 3-bedroom manager’s residence with park laundry on the ground floor. There is a separate machinery shed / workshop. General site improvements include an inground pool, separate pool-side BBQ and entertainment area. Internal roads are gravel with concrete kerbing.
The property’s “Highest and Best Use” is as a redevelopment site. A Development Approval for 226 apartments in 5 detached 4-6 level towers expired in 2017. The opportunity that exists is a 2.66*hectare redevelopment site in a CBD fringe location near a major shopping centre, food outlets and medical facilities, with lake frontage.
Key highlights of this exciting investment/development opportunity include,
• 2.66* flood free site
• Going Concern Tourist Park - GST exempt on sale
• Development upside with former development approval
• Existing holding income
• Lake frontage
• Surrounded by commercial amenity .
The property is offered on an “as is, where is” basis.
Property ID: 503292574Last Updated: 19 Feb 2020