26 Phillips Street
Murray Bridge SA 5253
3 Bed • 1 Bath • 11 Car • House
A big flat 3584m2 allotment with exceptional sub division potential or to simply generate a very good income, this property is a sure thing. Currently established with significant equestrian facilities the existing improvements include twelve stables, a round yard, tack room, basic stable accommodation, huge secure parking and a significant solid brick, three-bedroom home. The potential rental return is between $600 to $690 per week. The house is appraised to return approx. $250-$270 per week, the 12 x stable boxes approx. $25-$30/wk each ($300-$360/wk total) and the stable accommodation is worth approx. $50-$60/wk. With current bank repayments estimated at approx. $315 per week there are significant weekly profits available. For developers the property is situated in a residential zone and would suit entry level or small to medium developers looking for a firm project. With easy access to services, a nice flat allotment and the benefits of being a corner allotment the property is perfect for development. Furthermore, demand for quality two to three-bedroom homes in Murray Bridge remains high as there is a significant gap in this market in the region. A surveyed development concept/draft is available upon request. Located close to the existing Murray Bridge Race Track and Golf Course and surrounded by new development the property is well positioned to capitalise on recent renewal and ongoing rejuvenation of the area through property development. Or, if you wish to capitalise on the properties proximity to horse racing facilities simply grab the key and enjoy the strong investment return. Held in the family for two generations the remaining family members have instructed us to present the property to market at wholesale cost in line with land development prices to ensure a quick sale. To arrange an inspection of this property please contact Angus Campbell on 0411 737 794 Features: • 3584 m2 allotment • Solid Brick 3 bedroom home (incl. built ins) • 12 walk-in/walk-out stables • Round yard • Feed and Tack room • Basic wet area and worker quarters (stable accommodation) • Significant Secure Parking for large vehicles and horse floats • Close to Murray Bridge Primary and Secondary Schools and Unity College • Close to Murray Bridge Golf Club and Old Race Course *Please make your own enquiries regarding finance approvals, development approvals and rental returns. *A Property Management Rental Appraisal can be provided upon request. *A Residential Development draft concept is available upon request. *For finance options, please contact finance broker Danae Reed of Loan Market on 0429 398 329
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