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SOLD

23 Eramosa Road East, Somerville, VIC 3912

Properties / Sold / Victoria / Somerville

Development Potential

1. Property Summary

Property Type

Child/Healthcare

Sub Type

Medical, Health Care, Land Site

Land Area

1,088 m² (*approx)

Zoning

General Residential

Local Government

MORNINGTON

Selling Method

Expressions of Interest: Contact Agent

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2. Property Highlights

Discover Somerville’s golden nugget

Vacant possession or investment sale
Existing income producing asset
Strong future re-development upside STCA

Facey Property is proud to offer this property for sale by Expression of Interest closing Thursday 14 March at 4pm.

With period charm, this medical site comprises three well-presented and converted professional clinic rooms with 10’ ceilings, gas heating, evaporative cooling and a rear off-street vehicle parking area.

The site’s underutilised block (currently only 25-30% site coverage) faces Eramosa Road East, boasting direct exposure to the ALDI car park with excellent commercial exposure rights and benefits depending on how the site will be utilised.

This building assures exceptional returns on investment given location, zoning, size, street frontages, high visibility, rarity and potential commercial/residential re-development (STCA).

Eyes on Optometry currently tenants this quality asset, with the lease expiring on 31/08/2024. The purchaser can either have an ongoing income stream with the potential to extend the tenancy post-settlement or the ability to occupy from 1 September. Currently returning $3,087.96 per month net passing income, this site has the potential for far greater scope once redeveloped.

The property boasts excellent positioning, with proximity to the Peninsula Link, Somerville Train Station and Frankston-Flinders Road.

Enquire at www.faceyproperty.com.au to make the next move.

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