Rare City Fringe Development
Prime development sites such as this city fringe, corner allotment measuring approximately 359m2 in a Commercial 1 zone are rarely offered. Presented with approved plans and permits for seven apartments and two retail spaces, developers will be suitably impressed. The three-level proposal incorporates commercial office space measuring a total area of approx. 524m2 plus amenities and terrace, complemented by 127m2 of ground level retail space promising substantial exposure. A privleged spot delivers city vistas and ensures Newmarket Plaza, Newmarket station and Racecourse Road cafes are within walking distance with Mt Alexander Road tram at your door. Positioned in a high exposed corner, the site lends itself to alternative development (STCA) whilst also delivering an excellent interim income, currently leased to an automotive business and returning $52,000 per annum.
In Conjunction with Alexkarbon Real Estate – Charles Bongiovanni 0414 339 644