563A North Road Ormond VIC 3204

Teska Carson are pleased to offer 563A North Road, Ormond for Private Sale.

Presenting a prominently located two-storey property suited to a diverse range of buyers to occupy, value-add or future develop (STCA). Offers large rear land, rear access and newly installed digital signage providing passive income.

The pending redevelopment of Ormond Station by Dealcorp, which proposes to include a ten-storey apartment building along with a supermarket, retail outlets, office space, and food establishments, will result in a complete gentrification of this location.

TENANCY DETAILS:
- Current fully let income $80,200 p.a. 
- Ground floor leased: 2 + 3 year term (comm 07.03.25)
- First floor leased: 2 + 3 year term (comm 13.12.24)
- Digital signage with 10 + 10 year lease (comm 1.8.24)

PROPERTY HIGHLIGHTS
- Outstanding investment circa 6.7% return
- Frontage: 5.7m* to North Road
- Zoning: Commercial 1
- Land Area: 266sqm*
- Rear laneway access with 5 on-site car parks*
- Part of North Road Village shopping strip
- Close proximity to Ormond train station (400m)
- Future development opportunity

For more information or to arrange an inspection please don't hesitate to contact the listing agent. 

*approx.