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Sold on 12 Nov 2018

286 Kings Way & 77 Park Street South Melbourne VIC 3205

  • Development / Land
  • 1,550 m²
  • Sold

Under offer

  • Strong office and childcare income
  • 4,224 sqm* permit approved (NSA)
  • 1,531 sqm* high exposure corner site

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.

Property Highlights

Property ID2014592402
Date Sold12 Nov 2018
Floor AreaAsk Agent
Land Area1,550 m²
ParkingOn site parking available
Category
Last updated  15 Feb 2021
Map for 286 Kings Way & 77 Park Street South Melbourne VIC 3205
Map for 286 Kings Way & 77 Park Street South Melbourne VIC 3205286 Kings Way & 77 Park Street South Melbourne VIC 3205
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  • Purchase price

    $
    1,234,567

  • Deposit available

    $
    123,456

  • Loan term

    30
    years

  • Interest rate

    3.00
    %

repayments

$0/month*

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Property Highlights

Property ID2014592402
Date Sold12 Nov 2018
Floor AreaAsk Agent
Land Area1,550 m²
ParkingOn site parking available
Category
Last updated  15 Feb 2021
Knight Frank - Melbourne
Level 29, 120 Collins Street Melbourne VIC 3000

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