Prime South Yarra Apartment Block With Development Upside
16-18 Chambers Street, South Yarra, Victoria 3141
Land For Sale
Land Area: 561.00 m2.
The forthcoming sale campaign at 16-18 Chambers Street, South Yarra presents a rare opportunity to acquire a prime South Yarra apartment block with significant development potential.
The high-profile corner allotment with three street frontages is only metres from the bustling Chapel Street & Toorak Road retail precincts. The property is further complimented by being within proximity to a plethora of public transport, sports facilities and parklands. The existing undercapitalised improvements of six quality apartments generate a strong holding income stream and a positive rental reversion potential.
Key investment highlights include –
• Current income of $140,052p.a.
• Corner site area of 561m² with three street frontages
• Situated only metres from the thriving Chapel Street & Toorak Road retail shopping strips
• Favourable General Residential Zoning allows multi-storey development (STCA)
• Undercapitilised existing improvements of six presentable apartments
• Median house price of $1,865,500 supports a high-end development outcome
• Highly suitable to investors and developers
• Fantastic public transport amenity with the South Yarra train station only a short walk away
Ben Baines 0438 328 407
Ted Dwyer 0411 312 165
- Land holding of 561m² - three frontage
- Six existing apartments – fully leased
- Suited to multi-storey development
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