1 Blanch Street Lemon Tree Passage NSW 2319

Older cottage | large 867m² level lot | redevelopment potential | bushfire overlay This property presents a strong base for a value-add buyer, given its substantial and level land parcel in a coastal locale. The low building coverage and older cottage condition signal that the primary value lies in the land, serving an investor or builder seeking future redevelopment subject to council approval. Its size and configuration are competitively rare for the area, positioning it for long-term capital growth over immediate rental yield. The bushfire overlay imposes specific risk mechanisms, directly affecting construction costs and insurance premiums. The commercial logic is to treat the existing house as transitional, with the opportunity to develop or subdivide securing the investment. Hold this property as a land bank with improvement potential; its utility is maximised through strategic development rather than as a passive rental. Our analysis provides the real market valuation, checks for locality risks like bushfire construction, and insurance assessments critical for this scenario. Sold for $665,000 in late October 2020. This historical sale underscores significant equity growth, framing the current estimates within a credible trajectory of substantial capital appreciation for the area.