BOUNDLESS REDEVELOPMENT POTENTIAL
Sold - 168-170 Boronia Road, Boronia
Investment opportunity, Development/Land (Residential, Offices, Retail)
Sale Details
Sold on 07 May 2021 for $3,100,000
| Building Area | 1090m² |
|---|---|
| Rate | $2,844 per m² |
| Yield: | 2.80% |
| Land Area | 1952m² |
|---|---|
| Rate | $1,588 per m² |
Overview
| Sale History ID: | 36270 |
|---|---|
| Property ID: | 18488 |
| Advertised Price: | Contact Agent |
|---|
Description
POINT OF INTEREST:
This rare development opportunity in the heart of Boronia is for sale via Expressions of Interest, closing Thursday the 6th of May at 3pm.
Situated on a Commercial 1 Zone corner block, these two buildings sit on a total land area of 1,952 sqm* with a total building area of 1,090 sqm*. Currently providing $87,885.24 in rent per annum, the subject property provides opportunity to take advantage of the holding income whilst submitting to council for planning and permits
168-170 Boronia Road is surrounded by high density residential and commercial and perfectly positioned directly opposite Boronia Village Shopping Mall and is 700 m* to Boronia Railway Station, making this the strategic acquisition for any savvy developer.
- Total land area of 1,952 sqm*.
- Commercial 1 Zone corner block.
- $86,936.24 per annum holding income.
- Total projected income: $183,936.24 per annum (fully let).
- Opposite Boronia Village Shopping Mall.
- 700 m* to Boronia Railway Station.
- Bus routes 737, 745, 753 on your doorstep.
- 760 sqm* two level office at 168 Boronia Road.
- 330 sqm* single level building at 170 Boronia Road.
- Ample car spaces across both sites.
POINT OF VIEW:
Whether it be a new season drop from the Yarra Valley, or two buildings west of those vineyards, the point is knowing the fruitful for picking. And we know this opportunity is ripe.
*Approx.
Pricing excludes GST
Additional Info
| Features |
|---|
| Tenancy | 1A, 168 Boronia Road: Serendipity (WA) Pty Ltd. 170 Boronia Road: Scope (Aust) Ltd |
|---|---|
| Lease Term | Serendipity (WA) Pty Ltd: monthly tenancy. Scope (Aust) Ltd: 2 years expiring 15th February 2023 with no further options |
| Commenced | Various |
| Rent Review | 170 Boronia Road: 3% on the 16th February 2022 |
| Outgoings Payable | By tenant |
| Availability | Immediate |
| Car Spaces | Ample on site |
| Permits Issued | N/A |
| Suitable Development | Mixed use |
| Wheel Chair Access | Ground level only |
| Zoning | Commercial 1 Zone |
| Outgoings |
|---|
| Owners’ Corporation | $4,014.73 p.a approx (insurance 168 only) |
|---|---|
| Council Rates | $6,640.40 p.a approx |
| Water Rates | $3,365.84 p.a approx |
| Land Tax | $4,025 p.a approx (single holding) |
| Essential Safety Measures | TBA |
| Other Charges | Management fees: $720 p.a approx. Garden: $270 p.a approx. Electricity: $250 p.a approx. |
Agent Details
Jarrod Moran
M | 0413 251 621
T | (03) 9623 2589
E | [email protected]
Stan Dawidowski
M | 0400 448 755
T | (03) 9623 2556
E | [email protected]