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Sold on 10 Mar 2016

UNDEROFFER/534 - 540 Doncaster Road Doncaster VIC 3108

  • Development / Land
  • 6,323 m²
  • Sold

GATEWAY SITE ON DONCASTER HILL

** UNDER OFFER

GormanKelly in conjunction with Knight Frank are pleased to offer 534-540 Doncaster Road, Doncaster for Sale.

534 – 540 Doncaster Road, Doncaster presents an excellent opportunity for an astute developer to acquire one of the last remaining sites at the Gateway to the Doncaster Hill Precinct.

The property benefits from a high profile location on Doncaster Road and is sited on approx. 6,323sqm land which is zoned Activity Centre Zone under the City of Manningham.

Under the planning scheme the site is suitable for a variety of residential/commercial developments with the potential for 6 levels (S.T.C.A).

Improvements on the site comprise a restaurant premises of 634m2 with 113 onsite car-spaces. The property is leased to Papa Rich on a 15 year lease with no further terms and currently returns $265,224pa plus GST per annum.

The lease provides for an early termination in circumstances where the lessor wishes to demolish the existing improvements and redevelop the site.

Located approximately 12kms east of the Melbourne CBD with the Eastern Freeway about 1km away, the property is well serviced by public transport, is close to Westfield Doncaster and is opposite the Eastern Golf Club which has been acquired by Mirvac for a major residential project.

For more information please contact GormanKelly’s David Minton 0422 987 749 or Robert Kelly 0418 655 242 or Knight Franks Ken Smirk 0403 064 987 or Tim Grant 0478 666 275.

Property Highlights

Property ID2012251925
Date Sold10 Mar 2016
Floor Area634 m²
Land Area6,323 m²
ParkingAsk Agent
Category
Last updated  4 Jan 2016
Map for UNDEROFFER/534 - 540 Doncaster Road Doncaster VIC 3108
GormanKelly
Level 1, 1 Oxley Road Hawthorn VIC 3122

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