Located on the fringe of Melbourne CBD, this renovated two storeys building on a block of 135 sqm land, on a main road near Queen Victoria Market, has a secure tenancy on the ground floor and separate residence above with direct access. (Secure ground floor lease for 5 years commencing 1 April 2021. Current rent at $41,444.20 pa with further options; Upstairs residence was leased out for $56,160 per annum). Total building area is 180 sqm approximately with rear access and onsite parking.
The land is under CAPITAL CITY ZONE – SCHEDULE 5 (CCZ5) with allowable development height of at least 24 metres. Great opportunity for future boutique development (STCA).
Ideally located within a stroll of trams, Melbourne University, RMIT University, University High School Zone, lively Errol Street, Queen Victoria Market, Flagstaff Gardens and Melbourne's hospital district including the Royal Children's Hospital, Royal Melbourne Hospital and the New Victorian Comprehensive Cancer Centre, this is a great opportunity that cannot be missed.
Live in now while you have a secure rental from the ground floor below. A unique development opportunity to purchase a leased investment plus separate residence above with development potential for the future.
