POSITION + POTENTIAL
Over 7 metre wide two storey shop with three bedroom residence, large attic and rear off street parking for 2 to 3 cars, offers enormous growth potential and loads of possibilities to improve. Tremendous exposure having a huge frontage of approximately 7.24 metres. The property would certainly benefit by renovation as it is located on iconic’ King Street in Newtown. Containing a total gross floor space of approximately 170sqm and a massive land area of approximately 228sqm. This is an excellent opportunity for an owner occupier, investor, builder or developer to secure this most valuable retail/residential property. According to Council the floor space ratio is FSR 1.5:1, allowable building floor space approximately 340sqm (possibly more with an affordable housing development), maximum building height limit is 14 metres or 4 floors and zoned B2 Local Centre. Numerous possible uses include; pizzeria, chemist, fish and chips, medical centre, kebab takeaway, Chinese noodle shop, restricted premises and mixed residential and commercial uses STCA.
NOTE; There is an enormous amount of residential development currently under construction and on the drawing board in the immediate vicinity of King Street, Newtown known as Ashmore Estate about 3,000 units under construction. This will undoubtedly give additional support for the retail trade and reinforce Newtown as a major retail shopping strip.
PROUDLY OFFERED IN CONJUNCTION WITH VIC KELLY OF VICTOR KELLY PTY LIMITED Licensed Real Estate Agents 0419 212 810