Located only 15 km from Melbourne's CBD, this highly valuable Bayside land holding of over 2,500sqm in Cheltenham is truly an outstanding offering. Represented by the CBRE Melbourne team of Julian White, David Minty and Carl Hexter this site offers a multitude of future options - develop or invest.
Consisting of three (3) separate title allotments comprising of nine (9) residential dwellings, one of the key advantages of this site is its outstanding multiple street frontages - 54m to Bay Road and 20.5m to Royalty Avenue.
Currently providing a strong holding income of $135,492 P.A., additionally this site offers flexible opportunities to deliver further options such as townhouses, apartments, child care or retirement living (STCA).
Overall, this site is perfectly located in one of Melbourne's most popular retail, commercial and residential precincts. Surrounded by an abundance of parklands, within easy walking distance to Southland Shopping Centre, Highett Road retail strip and railway station, an array of educational options and only 3.5km to Sandringham beach.
" A large site offering like this one, in a location that’s spoilt with lifestyle options really is a notable asset. Add to this its current strong holding income, its flexible development opportunities and this clearly is an ideal property for the astute investor” - Julian White, CBRE Melbourne.
Summary:
- Highly valuable landholding of 2,590 sqm
- 3 separate title allotments comprising of 9 residential dwellings
- Multiple street frontages
- Current holding income: of $135,492 P.A
- Flexible development options (STCA)
- 15 km from Melbourne's CBD, close to prime retail, transportation, education options and beach
Please note that all financials, measurements and distances quoted are approximate only.
393-397 Bay Road, Cheltenham is for Sale by via public on-site Auction on Friday, December 16th at 12.30pm
For further information, please contact CBRE Melbourne:
Julian White: 0422 746 137, David Minty: 0422 564 199, Carl Hexter: 0409 411 507
Or visit: https://www.developmentready.com.au/properties/393-397-...
