Probability to snap up neighbouring Para Vista properties ripe for redevelopment

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The Para Vista properties at 12 and 14 Pitana Avenue are being bought as a bundle deal. Pic: realestate.com.au


On the hunt for a big suburban block to construct a dream residence or a number of funding properties?

Two neighbouring residences in Para Vista are providing potential patrons a uncommon alternative to snap up a considerable landholding ripe for redevelopment.

The properties at 12 and 14 Pitana Avenue have hit the market collectively and are already piquing the curiosity of builders forward of their December 19 public sale.

Each constructed within the Seventies, the homes are every on roughly 685sqm blocks – mixed the parcel gives about 1370sqm.

Collectively they provide about 1370sqm of land. Pic: realestate.com.au


Each homes have three bedrooms every. Pic: realestate.com.au


One is extra dated than the opposite inside. Pic: realestate.com.au


Ray White Norwood agent Nick Borrelli stated the proprietor had plans to redevelop each properties, which they purchased individually in 2015 from two totally different distributors, however a change in circumstances had prompted them to promote.

“Nobody was actually wanting to buy them each collectively however the (present) proprietor purchased each and was renting them out,” he stated.

“It’s been an funding for them for 5 years they usually had plans to develop it.

“They have been subdividing and perhaps placing 4 to 5 houses on it.”

The properties have been owned by two totally different distributors when the present proprietor purchased each 5 years in the past. Pic: realestate.com.au


The promoting agent stated they could possibly be renovated however usually tend to be redeveloped. Pic: realestate.com.au


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The home at No. 12 has three bedrooms, a storage and shed whereas the opposite at No. 14 has three bedrooms, a triple carport, a shed and indifferent video games room or studio.

Mr Borrelli, who’s promoting the property with Zachary Mckee, stated there was sturdy curiosity within the uncommon providing.

“We’ve had loads of inquiries from builders who’re wanting within the north and north east for giant blocks of land,” he stated.

“You don’t discover too many which might be side-by-side.”

Mr Borrelli stated each of the homes could possibly be renovated as properly.

The providing comes months after two neighbouring Kensington Park properties hit the market as a bundle deal.

They bought individually at public sale weeks later for a mixed $2.31 million.

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