Knight Frank is proud to present for sale "Kings Park" South Melbourne.
This ideal development opportunity is comprised of plans and permits for 44 large apartments and 6 exceptional townhouses. With a prime corner location offering extensive exposure and premium amenity, an astute developer will see the upside in the site.
The Church on the site, houses a childcare facility to provide some great holding income with potential to significantly increase the current rent. The plans have incorporated the townhouse scheme into the Church providing a magnificent mixture of the old and new to create a premium product.
Ideally located on the fringe of the city only moments from the Albert Park Lake, restaurants and cafés providing the developer confidence in end user amenity. A short walk to the Botanical Gardens allows for a mixture of parklands and recreational facilities in this convenient location.
Current holding income attached to both the Church (via a childcare facility) and also the office building allows for a buy and hold opportunity (with potential uplift in current rents) or immediate development.
To inspect the property or for further details, please contact the agents below.