PRIME Location Development Site! RARE FIND!
Town of Victoria Park P11 Development Scheme
R 80 - 8 UNIT SITE with 30 % ratio commercial ground floor (S.T.C.A.)
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 Highway, East Victoria Park Café and Business strip location and perfectly placed opposite the beautiful Edward Millen Reserve Park. Also a short walk to the Aquatic Centre and the Oats Street Train Station.
Currently the property provides 2 residences and has added access with rear R.O.W. 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 8 apartments (S.T.C.A.) on a 3 level development involving commercial tenancy on the ground floor of approximately 30% of total build area based on a 1.1 plot ratio of total development area.
Residence 1 - A solid front character "Californian Bungalow' home with original bathroom and kitchen.
Residence 2 - Compact 4 bed room home with rear lane way access. This is currently a full residential home.
These residences have various current uses such as -
- Live-in one, rent the other
- Rent both at estimated rental of $800.00 plus per week for both
- Alternatively rent as student accommodation for increased rental return of potential $1,000.00 per week
This location features all facilities of 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.
Asking price of Offers from $1,395,000 provides sound buying for this limited availability of prime site locations to purchase at today's values.
Please direct all enquiries to Albert Fontana today.
