Brand new 3 storey commercial/residential complex plus rear development site.
Absolute prime location development site! Rare Find!
Town of Victoria Park P11 Development Scheme
R 80 - Extra 8 UNIT SITE with 30 % ratio commercial ground floor (STCA)
Zoned Commercial / Residential
A very unique opportunity to acquire a SOUGHT AFTER piece of development land in a prime location!
Set amongst the action and activity of the Albany Hwy East Vic Park Café and Business strip, and perfectly placed a hop, step and jump to the beautiful Edward Millen Reserve Park. Also a short walk to the Aquatic Centre and Oats St Train Station.
Currently, the property provides the front, brand new building of 3 levels.
- Level 1 - retail shop of 60sqm floor space includes expansive window / door frontage, extra 16sqm storage, kitchenette and spacious bathroom facitlity, plus extra side door access. Total of 87sqm net rental area.- use for offices/ Café/ commercial
- Level 2 - super large oversized I bedroom apartment. Open plan living/dining and kitchen, huge 36sqm balcony, 1 bed incl BIR, 1 bathroom, sep laundry area, linen. Total residential area of 102sqm. Plus store room of over 5sqm.
- Level 3 - super large oversized I bedroom apartment. Open plan living/dining and kitchen, huge 36sqm balcony, 1 bed incl BIR, 1 bathroom, sep laundry area, linen. Total residential area of 102sqm. Plus store room of over 5sqm.
Rear 4 bedroom home - live in or generate income as can be leased as residential or commercial use.
Large 4 car garage
The property has added access with rear ROW which will allow for rear parking access and future development access for work/trade vehicles etc.
Currently the existing premises, both front and rear, would generate a holding income of $100,000.00 ( approx)
This level high exposure site of 685 sqm is zoned R80 building code, featuring a mixed zoning of Residential and Commercial development with capacity to build up to an extra 8 apartments at the rear of the property, depending on whether 1 or 2 bedrooms, (S.T.C.A.) on a 3 level development if existing home was demolished.
This location features all facilities at your doorstep, such as shopping, café/restaurants and transport.
Increased activity happening in the area with the higher residential density means this is the perfect time to invest into the area and reap the future growth.
Please direct all enquiries to Albert Fontana.
For more details, please email agent