Sun Apartments- Mixed Residential Development in Geelong
Posted by JennyChin on Aug 10, 2015 in Australian property investment, Investment | 0 comments
- One of Australia’s fastest growing regions
- 75km (<1 hour from Melbourne)
- Gateway to the Great Ocean Road and Australia’s premier tourism sites
- This Sun Apartment represents an opportunity to development site with 180 degree with to the Corio Bay and 360 degree view to Geelong. This site has a permit for a tallest landmark residential apartment tower in Geelong.
- Approved permit in place for a 15 Level apartment tower comprising of 120 apartments.
- Majority of the apartments are 1,2,3 bedrooms, with an average size of 75sqm
- Corner site of 2000+ m2 in area, located within the western wedge and 500 meter from Geelong – Melbourne central train station precinct, in close proximity 50 mins to Melbourne CBD and now train runs every 10 minutes.
- Designed by Award winning Architectural as entry gate for Geelong and landmark for Geelong.
- Summary :
- Land and plan cost is $10 million
- Construction cost $30 million
Association cost is 4.5 million
- Sell price is $ 56 million
- Profit: $11.5 million
