8,10,12 Gore Street
Port Macquarie, NSW 2444

Overview

81012 Gore Street Port Macquarie NSW 2444

This exceptional investment opportunity is located in the heart of Port Macquarie, comprising three adjacent blocks with a combined lot size of approximately 1524 square meters and an impressive 81 meters of street frontage. Positioned in a sought-after area surrounded by high-quality apartments, this property offers a prime canvas for development.

The location provides an ideal blend of convenience and lifestyle, with residents enjoying a short five-minute walk to the Central Business District, waterside cafes, fine dining restaurants, the Marina foreshore, and various social clubs. This proximity ensures that work, leisure, and dining options are all easily accessible.

These blocks are zoned R4 for high-density residential development, featuring a 19-meter height limit and a generous floor-to-space ratio of 2:1, opening numerous possibilities for development subject to council approval. This zoning allows for the creation of a modern residential complex that can capitalize on the established demand for sophisticated urban living in the area.

Currently, the property consists of three separate 3-bedroom cottages, each tenanted, providing an immediate income stream. This arrangement allows investors to generate rental income while planning and securing the necessary approvals for future development.

In a growing real estate market, acquiring a well-located property with significant development potential represents a smart investment. The strong demand for quality residences in this area enhances the appeal of this opportunity, offering the chance to contribute to the community's future while benefiting from a sound financial investment.

Key features include:

• Three adjacent blocks in town
• R4 high-density residential zoning
• 19-meter height limit
• Corner position with approximately 81 meters frontage
• Combined lot size of 1524 square meters
• 2:1 floor-to-space ratio
• Surrounded by high-quality apartments

Additional property details include council rates approximately $3,250 per annum for 8 and 10 Gore Street, and $3,270 for 12 Gore Street. Current rental pricing is approximately $400 per week for 8 and 12 Gore Street, and $420 per week for 10 Gore Street.

This opportunity is ideal for investors and developers seeking a prime location with immediate income and substantial future development potential in Port Macquarie.

Location