Description
Future-proof landbank opportunity with lucrative yield, leased to Blue-Chip fuel and convenience tenant, with 540 sites nationally and 5,000 sites globally to be sold via Auction on Wednesday 11th December from 11:00am at Crown Casino.
The strategic 1,858 sqm* site on the homeward-bound side of Sydney Road is located in one of Melbourne's most important arterials and development corridors, boasting a generous Sydney Road frontage of over 60 metres* and rear right-of-way access.
Situated 7.5 km* from Melbourne CBD, in the heart of Moreland's intensive redevelopment and gentrification precinct, forecast to promote 25% local population growth by 2036, *** the property is positioned within close proximity to Coburg Train Station, Woolworths, Coles, Dan Murphys, KFC, Commonwealth Bank, ANZ and Bank of Melbourne (all within 650 metres*) and number 19 Tram route past the front door.
Supporting its strong underlying land value is its significant future redevelopment potential (STCA) with Activity Centre Zoning and preferred building height of 21.6 metres allowing for 6-levels.**
Close proximity (250 metres*) to Pentridge redevelopment worth $1 billion+ including 1,500 residential apartments, 18-storey Adina Hotel, Ritchies Fine Foods Supermarket and 15-screen Palace Cinema.****
Estimated net rental $264,790.92 pa.
Investment Portfolio Auction 133
*Approx
**Australian Financial Review
***land.vic.gov.au
****forecast.id
*****The Urban Developer and Shopping Centre News
