509-517 The Entrance Road,
Long Jetty, NSW 2261

"CONTINUE AS A HIGH YEILDING INVESTMENT OR AN IDEAL REDEVELOPMENT"

Featuring a wide and well exposed street frontage, situated on a prominent and valuable corner position on The Entrance Road & Graham Street, take advantage of the zoning & land size.

Property overview;
- GAR $407,982.35 2017/2018 FY.
- Over 100 metres of street frontages
- Motel licence attached to the property
- Sold on a walk in and walk out basis - to be sold as a going concern no GST is attracted on the sale
- All rooms are ensuited with 9 of the 21 rooms featuring a kitchenette
- Fully airconditioned with low power (energy efficient) and near new reverse cycle system
- 2 updated communal bathrooms
- All current residents are on licence agreements
- Rooms are approximately 25 sqm in size
- 1 x 3-bedroom fully self contained apartment, approximately 74 sqm in size
- Remote access and CCTV surveillance
- 2 x Internal communal coin operated washer dryer facilities offering additional income
- Inhouse laundry facilities
- In-ground pool, BBQ & outdoor entertainment area
- Industrial kitchen and restaurant area - potentially an extra income stream or continue to use as a communal dining area
- Vending machines with drinks and confectionary
- Large office and reception area with attached bedroom
- Annual occupancy rate at 95%
- 118 solar panels 3kw (still under warranty)
- Built circa 1980 | double brick and concrete slab with terra cotta tiles and colour bond roofing
- Land area of approx. 3,535 sqm | Situated on 7 lots Ranging from 486.9 sqm to 512.2 sqm
- Current DA in place for an additional 12 rooms - a total of 33 rooms if built according to the DA


Developers/Builders note:
Legislative update to the Low Rise Medium Density Housing Code commenced on 6th July 2018,
Central Coast Council has been granted a deferral until 1st July 2019 on parts of the code.
State Environmental Planning Policy (Exempt and Complying Development Codes) 2008

Development Overview;
- Floor space ratio: 0.6:1
- Building height limit: 9.5m
- Land area (approx.): 3,535 sqm spread over 7 lots.
- Approximately 505 sqm per lot
- Zoned R1 General Residential
- 2 street frontages via The Entrance Road and Graham Street
- Direct access via Wyong Road onto Graham Street
- There may potentially be allowances under the Wyong LEP 2013 for affordable housing developments.
- Note: Clause 14 (2) (b) of the State Environmental Planning Policy (Affordable Rental Housing) 2009 contains provisions relating to the gross floor area of dwellings in relation to affordable housing.
- Development control plans (LGA based): Wyong DCP 2013 - as amended 11th August 2017
- Land application LEP: Wyong Local Environmental Plan 2013
- Local government area: Central Coast Local Government
- A proven cash flow whilst awaiting DA approval by continuing to operate the property as budget accommodation

"An array of options to continue as is or re-develop and take advantage of the current zoning"

Inspections by appointment.