A seldom found opportunity exists for a shovel ready development in the inner North. Preston’s demand for apartment style living is booming, however limited development opportunities exist which translate into fantastic financial returns for developers.
With few developments coming online, this ready to build apartment building is rare commodity. Current approved plans and permits allow for commercial tenancy, 2 x 1 bedroom apartments, 18 x 2 bedroom apartments and 3 penthouses boasting three generous sized bedrooms. Opportunities may exist to reconfigure the development within the approved building envelope to 45 x 1 Bedroom apartments, catering to the solid first home buyer market and investor opportunities.
Plans and Permits in place for 23 Multi Bedroom Apartments plus commercial
900m2 Land Size Approx
EPA assessment completed
Ready to commence construction (STBA)
Opportunity to reconfigure to 45 x 1 Bedroom Apartments (STCA)
Enormous Demand for high density Inner North living.