This highly valuable inner-city land holding of 1,085sqm in Brunswick is only 5km from Melbourne's CBD. The ICR Property Group sales team of Raff De Luise and Julian Materia believe that this site offers an exciting opportunity to deliver a truly striking development project (STCA), in the heart of one Melbourne’s most sought after locations. With a major Rothelowan Architects designed residential project nearing completion next door, this site is ideally positioned to capitalise on the high interest levels currently being generated. A key advantage is that development planning may be progressed using the building’s current rental income to support the holding costs.
Overall, this site is perfectly located in one of Melbourne's most popular, cultural and vibrant inner-city hubs. Its abundance of amenities includes the Brunswick Train Station (220m away), Vibrant Sydney Road cafe and retail precinct, the Queen Victoria Market (4.6km) and the renown Royal Park, home to the Melbourne Zoo (2.3km).
" With a current median house price of $1,185,000 (Core Logic), this Brunswick site presents an exciting opportunity for the astute investor to capitalise on proven buyer demand for an inner-city residential location. We currently rate this site as Brunswick's best development opportunity (STCA) and the expectation is that developer interest will be strong” - Raff De Luise, ICR Property Group.
Summary:
- Highly valuable inner-city landholding of 1,085sqm
- Rothelowan Architects designed residential project next door is close to completion
- Progress development planning using the building’s current rental income to support the
holding costs - Rental $59,000 per year gross plus GST
- Commercial 1 Zone (Preferred maximum height 25m (STCA)
- On the doorstep to transportation, prime retail and recreational parks
- Opportunity to deliver a truly striking development project (STCA)
Please note that all financials, measurements and distances quoted are approximate only.
278-282 Albert Street, Brunswick is for Sale by EOI closing Friday 24th November 2017 @ 12 noon.
For further information please contact ICR Property Group:
Raff De Luise: 0418 533 633
Julian Materia: 0498 188 011
VIEW PROPERTY HERE:
