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SOLD
294-296 Warrigal Road & 157 Centre Dandenong Road, CHELTENHAM, VIC 3192
Development Potential
DETAILS
FULLY LEASED RESIDENTIAL SERVICES FACILITY WITH LONG TERM INCOME + DEVELOPMENT SCOPE
  • Substantial 3,266sqm Landholding
  • Renewed Lease To 2024
  • Over $400,000p.a. Passing income

CBRE Victorian Development Sites and CBRE Healthcare & Social Infrastructure are proud to exclusively present 294-296 Warrigal Road & 157 Centre Dandenong Road, Cheltenham – A highly reputable residential services investment offering long term income plus development scope.

+ Passing income of $414,797p.a + annual increases & bank guarantee with highly valuable existing improvements.

+ Renewed four (4) year lease to St James Terrace to 2024 & land tax exempt

+ Residential Services Facility featuring 45 beds (all single with en suite) and sizeable at grade parking area’s

+ Substantial underlying landholding of 3,266sqm* zoned General Residential offering multiple street frontages exceeding 30m* to Warrigal and Centre Dandenong Roads.

+ Highly trafficked and well exposed location underpinned by aged care, healthcare, fuel and retail amenity

+ Located 1.8km* to Westfield Southland - a super-regional shopping centre anchored by Woolworths, Coles, Aldi, Myer, David Jones and Village Cinemas

+ Other amenity and attractions including DFO Shopping Centre & Kingston Central Plaza 1km*, 1.8km* to Moorabbin Airport, 3km* to Costco, 2.8km* to Mentone Beach, 1km* to Kingston Heath Golf Course.

+ Multiple public transport options in Cheltenham Train Station 1.7km* and 828 bus route which travels to Southland, Highett Road and Hampton Street retail strips.

+ Only 1.5km* to Nepean Highway a major arterial connecting to Melbourne’s CBD (18km*) and south-eastern suburbs.

SOLD - CONTACT AGENT FOR FURTHER DETAILS

Nathan Mufale

+61 421 224 354

David Minty

+61 422 564 199

Marcello Caspani-Muto

+ 61 417 065 777

Jimmy Tat

+61 439 399 188

Remember to mention you found this property on DevelopmentReady.com.au

DEVELOPMENT SITE SUMMARY
EOI:
EOI:
SOLD - Contact Agent for further details
Property Area
AREA:
3266 m² (*approx)
Property Type
TYPE:
Commercial, Residential, Townhouse Sites, Townhouse Sites
Development Potential
DEVELOPMENT APPROVAL:
Residential Development Opportunity (STCA)

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294-296 Warrigal Road & 157 Centre Dandenong Road, CHELTENHAM, VIC 3192

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