PERMIT POTENTIAL: Existing schematic drawings for a 225-apartment complex with commercial and retail spaces (STCA).
Huge Potential On 6000m2* Goldmine!
Enjoying prominent street exposure and easily accessible, here's a first-class opportunity to buy and develop in a five-star location with this excellent block, which measures just under 6,000sqm (approx.) and boasts existing schematic drawings for a 225-apartment complex with commercial and retail spaces (STCA).
Two tenancies and signage currently occupy the potential-rich site. Tenant 1 occupies 1,813sqm (approx.) and is leased on a month-by-month basis at $100,000 pa, while Tenant 2 stands on a generous 1,400sqm (approx.) and is leased at $70,000 pa. And with Signage generating $40,000 pa, there's three attractive revenue streams available to the astute buyer from the outset.
With Chadstone Shopping Centre now undergoing a $580 million expansion, the area is also set to benefit from the increased employment opportunities and added amenities. This can only be good for the local property values.
AUCTION Wednesday 16th September 2015 @ 12:00pm - On Site
