5 Mona Street (also known as 6 Illawarra Street), Allawah NSW. The sale of this site represents an exceptional opportunity for boutique developers and boarding house providers to make their mark in southern Sydney, the heart of St George area. The property is offered for sale. The property is improved by a development approval, designed by the renowned award-winning architectural firm A+ Design Group, for the demolition of the existing structures and the construction of a 7-storey boarding house containing 47 rooms over a single-level basement. For a short-term return, there is a single-level dwelling divided into two(2) flats ensuring a recurring income stream before demolition and construction. The affluent area of Allawah forms part of the St George area and is conveniently located only 100m* from Allawah Station. This DA-approved boarding house will benefit the astute investor and developer by being one of the last remaining boarding houses permitted under the existing SEPP is in a highly sought-after area of Sydney with vacancy in this location having tightened to a low of just 0.9%**. Additional highlights of the asset include: • DA approved for 47-room self-contained boarding house plus common room • Site area - 667.1m2* • 0.9% vacancy rate** in the surrounding area evidencing a strong demand for rental opportunities. • Zoning R4 - High Density Residential • FSR - 2 : 1 • Height Limit - 21m • 100m* to Allawah Station • 1km* to Westfield Hurstville • 1.2km* to Hurstville Station • Easy access to Sydney, Hurstville & Rockdale CBDs