79 Ormond Road Elwood VIC 3184

CBRE Melbourne Metropolitan Sales is offering for sale via on-site auction on Thursday 3rd July at 12:30pm a prized investment & development opportunity, situated in one of Melbourne's most desirable bayside suburbs at 79 Ormond Road, Elwood.

Key details include:

+ Substantial mixed-use complex of 16 residential units and two ground floor shops, providing an opportunity to refurbish, extend or redevelop (STCA)

+ 870sqm* corner landholding with Commercial 1 Zoning, extensive street exposure one of Bayside Melbourne's most well known retail precincts and on-site car parking for each residential unit

+ 15 of the residential units comprise a bedsitter residence with kitchen, lounge and bathroom accommodation in addition to the penthouse apartment commanding a higher weekly rent with views overlooking The Elwood Village

+ The property provides an opportunity to capitalise on Melbourne's surging residential market and substantially increase the rents through value-add enhancement and leasing strategies

+ Positioned within a premier blue ribbon & tightly held residential market, close to prestigious bayside suburbs with median house prices amongst the highest in Melbourne

+ Fully leased annual income of $343,120* per annum

This highly sought after and seldom found investment is available for sale via an on-site public auction on Thursday 3rd July at 12:30pm.

Contact CBRE for more information and to organise an inspection.

Nathan Mufale
+61 421 224 354
nathan.mufale@cbre.com.au

Alex Brierley
+61 447 974 447
alex.brierley@cbre.com.au

David Minty
+61 422 564 199
david.minty@cbre.com.au

Scott Hawthorne
+61 400 861 048
scott.hawthorne@cbre.com.au

CBRE Asian Services Desk:
Jing Jun (JJ) Heng ()
+61 411 059 116 ()
jj.heng@cbre.com ()
jheng1206 ()

*Denotes Approx.