development opportunity in Newcastle

Hi all SSers

I have been keeping my eye on this property for the last 2 years as my mother knew the lady that used to live here. She died about 3 years ago and the property was left to the Catholic church. They now have it up for sale.

I am absolutely spewing...:mad: because I am maxed out and wouldn't be able to get that much together.

It would be a great opportunity for someone who wants to develop as it is in a high density area, on a large corner block, 50 metres from a major train station and you could throw a stone and hit several developed properties of the same size block.

heres a link

If the link doesn't work , the address is 110 Broadmeadow Rd Broadmeadow NSW.

It is being sold by Dowlings Hamilton.

I drive past it every afternoon after work and the sign only went up yesterday.

I don't have anything to do with the sale, I just thought I'd put it out there for someone else who may be interested.

Im absolutely gutted I havn't got the funds to buy it.:(

If someone buys it from here because of my post, send me a big bunch of flowers.
How sure are you that it's a good deal? Have you done numbers on it to prove that you could make a profit out of it?? If so, you could get a backer to source / provide funding; you do all the work to bring it to fruition and share some of the profit. ;)
Sold for 16k over asking price. I'd say some through here might have bought it as the agent said it sold nearly two weeks ago.