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SOLD
16-18 Chambers Street, South Yarra, Vic 3141
Development Potential
DETAILS

SOLD

Prime South Yarra Apartment Block With Development Upside

The forthcoming sale campaign at 16-18 Chambers Street, South Yarra presents a rare opportunity to acquire a prime South Yarra apartment block with significant development potential.

The high-profile corner allotment with three street frontages is only metres from the bustling Chapel Street & Toorak Road retail precincts. The property is further complimented by being within proximity to a plethora of public transport, sports facilities and parklands. The existing undercapitalised improvements of six quality apartments generate a strong holding income stream and a positive rental reversion potential.

Key investment highlights include – 
• Current income of $140,052p.a.*
• Corner site area of 561m² with three street frontages
• Situated only metres from the thriving Chapel Street & Toorak Road retail shopping strips
• Favourable General Residential Zoning allows multi-storey development (STCA)
• Undercapitilised existing improvements of six presentable apartments
• Median house price of $1,865,500 supports a high-end development outcome
• Highly suitable to investors and developers 
• Fantastic public transport amenity with the South Yarra train station only a short walk away

*Approx

Remember to mention that you found this property on Developmentready.com.au

DEVELOPMENT SITE SUMMARY
SOLD:
SOLD:
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Property Area
AREA:
561 m² (*approx)
Property Type
TYPE:
Residential, Apartment Sites, Apartment Sites
Development Potential
DEVELOPMENT APPROVAL:
General Residential Zoning allows multi-storey development (STCA)

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16-18 Chambers Street, South Yarra, Vic 3141
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