Located 4km from Melbourne's CBD, this prime freehold is a fantastic investment offering from the Fitzroys team of James Gregson and Michael Ryan.
This outstanding site, positioned in the sought after Footscray precinct, is Permit Approved for 22 apartments and strategically designed to contain a mix of 6 x 3 bed and 16 x 2 bed apartment configurations. Its proposed innovative and aesthetically pleasing architectural design will certainly appeal to this area’s discerning buyer
With a highly desirable land size of approximately 955 SQM, this site currently consists of two (2) income producing Victorian dwellings on separate titles. The dimensions, plans and approved permit all represent great upside potential for the insightful developer and investor looking to capitalise on one of Melbourne’s key growth locations. Overall, Footscray is perfectly located with its popular retail, commercial and residential precincts, parklands, transportation, educational options and also its proximity to freeway links.
" Development sites in a truly vibrant locale so close to the Melbourne’s CBD are in particularly short supply – combine this with Footscray’s strong buyer demand and you really have a strong property asset. The approved plans and permit represent a substantial cost saving and importantly the purchaser has the option of a holding income stream up until the commencement of development." James Gregson of Fitzroys.
Summary
- Valuable land holding of 955 sqm
- Approved permit for 22 apartments consisting of 6 x 3 bedrooms and 16 x 2 bedrooms
- Innovative architectural design
- Activity Centre zoning provides alternate development outcomes (STCA)
- 2 existing Victorian dwellings on 2 titles with holding income
- Capitalise on strong buyer demand for Melbourne’s inner west
Please note that all financials, measurements and distances quoted above are approximate only.
11-13 Pickett Street, Footscray for sale via public auction: 14th December at midday.
For further information, please contact Fitzroys:
James Gregson - 0421 516 480 or Michael Ryan - 0433 180 199
OR CLICK HERE: https://www.developmentready.com.au/properties/11-13-pi...
