Crabtrees Real Estate are excited to offer 1527 Dandenong Road & 110 Drummond Street, Oakleigh to the market for Sale via Expressions of Interest closing Thursday 16th June at 4pm.
This high profile development opportunity sits on a landmark site of 763 sqm* with two street frontages, rear laneway access plus two existing buildings returning a combined $124,661* pa net.
The terrific upside of this property is its repositioning, the potential to redevelop the site into a mixed-use development with preliminary plans prepared for a 6-level residential development with ground floor commercial (STCA) will be clearly sought after based on a precedent of surrounding apartment towers.
FEATURING:
1527 Dandenong Road, Oakleigh
+ Total building area of 230 sqm*
+ Leased to Positive Psychology on a 3-year lease from 10th September 2019
+ Current return is $59,661.06 pa net
110 Drummond Street, Oakleigh
+ Total building area of 274 sqm*
+ Leased to Nickless Miller Meehan's Accountants and Advisors on a 1-year lease from 1st April 2022
+ Current return is $65,000 pa net
+ Total land area of 763 sqm*
+ Two titles to be sold as one
+ Two income streams
+ Commercial 1 zoning
+ Preliminary plans prepared for 6 level residential development with ground floor commercial.
Expressions of Interest closing Thursday 16th June at 4pm
Terms: 10% deposit. Balance 60/90/120 days.
Crabtrees Real Estate is built on history, reputation and expertise.
We offer a level of knowledge others can't match.
Our team strategically located across the eastern and south eastern corridors of Melbourne are ready to handle your Commercial, Industrial and Retail Property needs today so call or email NOW!
