Urbex, a residential and commercial developer in major cities across the country, has put up a rare opportunity for investors to purchase a spacious property in a prestigious location in Manly.
The site on 37 to 41 Oceana Terrace, atop Manly Hill, overlooks the Manly Boat Harbour and captures the gorgeous views of Moreton Bay and North Stradbroke Islands. Spanning 1,760 square metres, the land has potential for reconfiguration as a commercial or residential development for affluent locals, across three titles.
The land has existing houses that may also be primed for an upgrade, subject to Council approval. The houses have a combined nine bedrooms and five bathrooms.
Craig Covacich of Urbex said that the offer is a “perfect opportunity” for investors to capitalise on an established and beautiful location amidst a lack of supply in an in-demand market like Manly.
Ubex expects that the site will fetch a record price, with both locals and interstate buyers expressing interest.
In Manly, the average price for a house with at least four bedrooms is $1.2 million as of 25 June 2021. The general forecast for Brisbane’s property will continue to strengthen in 2022 as a result of the city’s improving infrastructure.