Entry Level Mixed Use Development – 562m²* On Princes Highway
CPG are pleased to present to market for sale via expressions of interest campaign one of the last un-developed mixed use sites on the Princes Highway with prime main road exposure and rear lane access located only meters from the brand new Aldi development and 1km* from Carlton train-station.
With a B2 Local Centre (mixed use) zoning, 2.5:1 FSR, and 21m building height limit sitting on a total land area of 562m²* the property offers prime opportunity to be developed into a modern, multi tenanted commercial building with exposure OR a mixed used building with ground floor retail and residential levels above. Making it suitable for both owner occupiers seeking an entire freehold commercial building with huge exposure to be built fit for purpose – or to occupy part and lease out the rest OR developers seeking to capitalise on the low site coverage and short term leases and develop an entry level mixed use development site with a potential GFA of 1,405m²*.
Property Highlights:
- 562m²* total land area
- 12.5m* frontage to Princes Highway with rear lane access
- Current building of 177m²* ground floor retail split over two tenancies + a generously sized 150m²* 3 bedroom apartment
- B2 Local Centre (mixed use) zoning
- Development upside with a 2.5:1 FSR and 21m height limit, potential Gross floor area for development of 1,405m²* in total floor area (pending council planning controls)
- Potential to be developed into a modern, multi tenanted commercial building with exposure OR a mixed used building with ground floor retail and residential levels above
- Neighbouring properties have all been developed into similar mixed use commercial/residential buildings
- Current short term holding income, ideal while plans are drawn and DA is obtained
- Opportunity for occupiers to occupy part of building and rent remaining areas, OR secure an entire freehold commercial building with exposure to be renovated into an ideal space for their business headquarters
- Ideal for developers seeking to capitalise on the low site coverage and short term leases
- Exposure to thousands of passing cars daily for all current and future tenancies
For further information or to arrange an inspection, please contact the exclusive selling agents Ryan McMahon on 0429 228 460 or Greg Carr on 0477 880 576.
Open for Inspection:
Private Appointment
Expressions of Interest:
Closing 18th November 2022 at 5:00pm
*Approximate
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