Situated on the cusp of the Melbourne CBD is this impressively renovated historic site with development potential. Located opposite the Flagstaff Gardens, the property comprises a single title of approximately 565 square metres of land and boasts a frontage to King Street of over 15 metres. The buildings, originally constructed as three, two-story terrace houses were renovated by the present owners to their current high quality office use, only a few years ago.

The rear portion of the site is currently used for parking up to 12 cars but provides the astute purchaser a rare opportunity to extend the current buildings or take advantage of the 40 metre development height limit in the planning scheme. There is excellent rear access to the site via Phoenix Lane which runs off King Street, just to the south of the site.

The site is zoned Mixed Use, a highly sought after zoning in the City of Melbourne which allows among other things residential occupation or development, subject to council approval.

The buildings are currently leased as an office with a net lettable area of 490 square metres (approximately) returning $176,473 per annum plus GST with the current lease expiring on 30 June 2015.

The property is being offered for sale by Expressions of Interest closing on Thursday 21 August 2014 at 4.00 pm on very generous settlement terms of up to 6 months.

Agents in Conjunction: Kliger Wood.
Contact: Rogan Seger 0418 352 812
Grant McKenzie 0418 590 615