650-652 Plenty Road, Preston VIC 3072

Construction calculator guide NEED FUNDING? TOWN PLANNING?

Townhouse development site with holding income

$1,998,000

• A significant land holding of 740 sqm*, ideally situated in a prime corner position in one of Melbourne’s thriving inner Northern suburbs 
• 2 year lease commencing Jan 2017 returning $88,000 per annum net 
• Comprehensive development scheme for 10 expansive townhouses
• Recently rezoned to MUZ, allowing development up to 6 floors (STCA). Providing flexibility to alter the scheme to apartments, childcare, or a mixed use development (STCA)
• Extremely valuable 49 m* frontage to Plenty Road and Rene Street
• Rapidly expanding median house price of $861,000 with a 67%* growth in 5 years
• Preston has been in hot demand by investors, developers and owner occupiers alike as it ticks all the boxes for these buyers. Flanked by two tramlines and with easy access to two train stations, it features a wealth of amenities
• Moments to Northland Shopping Centre, Preston Markets and Summerhill Shopping Centre

For further information or to discuss the opportunity in detail, please contact Knight Frank directly.

*approx.

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