Prominent Sydney Road Property in Coburg
Leo Mancino and Craig McKellar of CVA have just sold a prominent Sydney Road property in Coburg adjacent multi-million dollar Pentridge Development.
Boasting a two-street frontage to both Sydney Road and Champ Street, the well maintained showroom/warehouse of 493m2* sits on a substantial land holding of 1,260m2* and offers the flexibility of two titles.
The property was sold for an exceptional $3,500,000.00 to investors with a lease return of $78,000 p.a. to landbank the site for potential mixed-use development. The sale equates to a land rate of $2,778 psm* and a building rate of $7,099 psm.
The property is conveniently located on Sydney Road, one of Melbourne's most iconic shopping precincts and is well serviced by Bell Street as well as Pascoe Vale Road and City Link Freeway. If you have any queries please do not hesitate to contact the undersigned.