Maclean Real Estate - Brooms Head Real Estate - Gulmarrad Real Estate - Lawrence Real Estate - Ashby Real Estate

293 Goodwood Island Road, Goodwood Island

$375,000

Bedrooms
0
Bathrooms
0

A UNIQUE INVESTMENT OPPORTUNITY

A large 1.504 hectare (3.7 acres), situated adjacent to the Clarence River on Goodwood Island.

Accommodating 10 privately owned cottages, currently generating an income of $550 per week.

With a large cleared area that accommodates a shared septic system, maintained by the cottage owners, who also share the cost of land and water rates, leaving you with minimal overheads.

Originally constructed to provide temporary housing for mullet fishermen, the buildings are individually "non conforming existing uses" under the EP & A Act. Due to these circumstances, consent to operate is not required as long as there is no enlargement, expansion or intensification without the consent of Council.

Goodwood Island is an island situated between the main channel of the Clarence River and the river's north Arm near Iluka and Woombah. Only minutes from Yamba and Iluka by boat and only a short 10-15 minute drive to nearby beaches at Woody Head, Shark Bay and Iluka.

Recently reduced to $375,000 with the rental return due to increase to $650 per week from 1 December 2019, providing a 9% return.

For more details contact us today.

  • Property ID: 61770130
  • Land size: 1.5ha (3.72 acres) (approx)