5,242 SQM (APPROX.) OF PRIME DEVELOPMENT LAND IN HAWTHORN!
UNDER OFFER
A once in a lifetime opportunity is ready and waiting for you with this exceptional and rarely seen Hawthorn prospect. Located on an unprecedented 5242 sqm (approx.) of prime inner city land, this outstanding property combines 62 existing dwellings while further offering development possibilities beyond your wildest dreams!
This property consists of 2 separate lots which are bordered by Manningtree Road and Wattle Road right in the heart of Hawthorn. One of the lots features two beautiful heritage homes, however most of the land is taken up by apartments which includes studio, 1, and 2 bedroom residences.
The possibilities are truly endless with this substantial block. In the General Residential Zone 2 (GRZ2), you can develop these 2 lots into a stylish and luxurious apartment complex or townhouse estate, with all redevelopment options subject to council approval (STCA).
As you wait for building permits to be issued, the rental potential of the current properties total $1,000,000 per annum (approx.) making this an appealing opportunity on many levels!
Not far from the corner of Burwood Road and Power Street, this location is something quite special. You’re a short walk to some of the area’s best cafes and eateries, as well as a supermarket and trams heading in all directions. You’re also not far from Glenferrie Road restaurants and shops, Kew Junction shopping, Grace Park, St James Park, Hawthorn Aquatic and Leisure Centre, Glenferrie Primary School, Erasmus Primary School, Auburn High School, Richmond High School, Melbourne Girls’ College, Swinburne University, and Glenferrie Station.
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