Ideal opportunity for development in excellent location, walking distance to Melbourne CBD & hospitals, shops, train stations, trams, hotels, restaurants, business, sporting centres, MCG, Rod Laver Arena & Albert Park Beaches.

Zoned mixed use for a variety of uses. Lane is rear of property.

Land 5.03m x 28m/26m long

This prime site is now ready for a smart developer complete the DA and then build and finish this small to mid size development.

A quick walk to the Victoria Markets.

Concept Plans for 11-12+ units + basement parking.

Development Sales approx. $8,200,000-$8,500,000 +
Construction Costs approx $3,500,000 + GST

Sales:-
2brm $650-$720K 100m2
3brm $720K-$800K 108m2-120m2

Nearest comparable sale was 203 Adderley St West Melbourne for $2,100,000 same size land recently. (Above prices correct at listing)

160 Adderley $710,000 for a 2brm 1 bath 1car.in October 2010

5/567 SPENCER STREET West Melb
3brm 2 bath 2 cars sold in September 2010
for $780,000.

Australian Property Monitor West Melbourne up 58%

http://www.homepriceguide.com.au/?source=APM

A Section 32 Statement is available upon request.

Features: Park Opposite, Views of Docklands from 2nd & 3rd levels. 100 metres to public transport. Walking distance to hospitals, restaurants, hotels, theatres, football matches, train & tram stop points. In a growth area.
Leased at $500 per week until Feb 2011

Concept plans are available upon request.

Property Details:
City Council:$2,295.00
City West Water:$207.00
Land Tax:$2,825.00
Electricity/Water/Sewerage Connected

Property Type: Vacant land
Land Area: 411.00m2

Working in conjunction with place2live

Further info available now by contact
John O’Beirne on 0405-185-019

Disclaimer:
The above property information has been produced by East Coast Property Services Pty Ltd based on in-put from the vendor(s) and other sources. While it is trusted to be correct, the information cannot be guaranteed and prospective buyers must rely on their own enquiries/investigations.