Prime South Yarra Apartment Block With Development Upside

16-18 Chambers Street, South Yarra, Victoria 3141

Land For Sale

For Sale
Land Area: 561.00 m2.    

Description

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

*Approx

Ben Baines 0438 328 407
Ted Dwyer 0411 312 165

Features

  • Land holding of 561m² - three frontage
  • Six existing apartments – fully leased
  • Suited to multi-storey development

Map

Open in a new window

Contact Us

Share This Property
For further details, contact:
Talk to us Now
Click below to be
instantly connected with
a Colliers International representative Request Call
Close
Talk to us Now
Complete this form to be instantly connected with a Colliers
International representative.

Please note this service is only available during business hours
Monday to Friday 8.00am-6.00pm (AEST)

Calling you now!

 

Close This Window

Close
Saved Properties
Remove All
You have no saved properties. Click the 'save' button associated with a property listing to see it displayed here.