The two Coutts parcels of land are located in a high traffic location, opposite Seven Mile Beach with great visibility. The land is adjacent to Public Beach on West Bay Road in a rapidly developing area of exclusive resorts, prestigious residential developments, and fine shops, restaurants, and commercial businesses. This superior, Hotel/Tourism zoned Coutts development site is comprised of a parcel with the Coutts Building and a vacant parcel, for a total of 1.06 acres. These parcels can accommodate a development up to 8 storeys with the scale to afford significant returns on investment. You can develop a new 2 storey retail center on the front pad and a 7 to 8 storey building with 25 apartments behind it on the second pad. A site redevelopment feasibility study has just been completed and is available for review. In terms of land with vast West Bay Road frontage and high density zoning, including beachfront access to a public park just across the street, sites like this very rarely become available. This is a tremendous opportunity to acquire two parcels that can be developed at the same time or individually. Continue to rent out the Coutts building and gain rental income while development plans are prepared.
Key features
- Price $6,500,000 USD
- View Beach View, Inland
- Sq ft 16689
- Price/sq ft $389.48 USD per sqft
- Acres 1.0600
- Type Offices/Mixed Use
- Built 1996
- MLS 418230
Property Details
- 2 stories
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