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Overview
Prime Development Opportunity on 8,094 sqm Allotment
113-119 Mitchell Street in Parkes offers a unique and significant development opportunity in the expanding central area of Parkes. The property encompasses approximately 8,094 square meters of land, presenting substantial potential for future development projects.
The existing residence on the property is a versatile home featuring three bedrooms and two bathrooms. Its flexible floorplan is designed to provide generous living space and adaptable options to suit various needs. The home includes three separate living areas, two of which can be converted into additional bedrooms, making it ideal for large families, independent living arrangements, extended families, or dual-living possibilities. One section of the house has its own separate entrance, laundry, and bathroom, enhancing the flexibility and privacy for occupants.
From a development standpoint, the property is particularly attractive due to an approved Development Application (DA) for a two-lot subdivision. This subdivision includes one lot of approximately 750 square meters containing the existing residence and a second lot of about 7,344 square meters. There is also potential for further subdivision, subject to council approval, with proposed lot sizes ranging between approximately 650 and 805 square meters. This makes the property an exciting prospect for developers and investors aiming to benefit from Parkes' ongoing growth.
Additional considerations for development include established stormwater access provisions, which may facilitate the installation of future infrastructure and streamline development processes.
Key Features:
- Approximately 8,094 square meters of land
- Currently leased at $330 per week
- Flexible home layout with multiple living zones
- Separate access area providing privacy and versatility
- Approved DA for a two-lot subdivision
- Potential for a future nine-lot subdivision, subject to council approval
- Significant development potential in a growing area
This property is suitable for those seeking an immediate investment opportunity, a future development site, or a spacious and adaptable residence with room to grow. The extensive landholding combined with the flexible home layout and approved subdivision makes 113-119 Mitchell Street a property with endless possibilities.
While every effort is made to ensure the accuracy and completeness of the property information provided, no guarantee is given. Buyers should independently verify all details, inclusions, availability, pricing, and other relevant information directly with the listing agent before relying on this information.
Open for Inspections
Upcoming inspection times scheduled in the next 14 days.
Location
Parkes NSW 2870
Market Insights for Parkes NSW 2870
Other properties in this postcode
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