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Freehold Office Building + Approval 50 Apartments + RetailProperty ID 1718288Ray White Commercial proudly presents this premium office freehold located in the Box Hill development precinct. The current building comprises of 2 levels of office with rear onsite car parking that is 100% leased returning $114,948.24 pa net approx.
The property benefits from side and rear laneway access enabling ease of access into the property. Directly opposite the property is a multi-level paid car parking facility and currently under construction is the neighbouring property of 11 levels setting the stage for this future development.
Invest and hold or develop the existing permit of 50 apartments + 1 Commercial Retail, endless opportunities.
Property features :
• Zoning | Commercial 1
• Land Area | 723m2 approx.
• Building Area | 556m2 approx.
• Current Income | $114,948.24 pa net
• Reviews | 3% annually
• Demolition clauses in leases
• Approved planning permit for 50 apartments + 1 retail
Key Information Tenancy Status Currently Tenanted Annual Yield (Gross) N/A (Marketed Without Price) Annual Yield (Nett) N/A (Marketed Without Price) Title Scheme Not Applicable
The above figures are estimates and should not be relied upon by a purchaser. The returns are not guaranteed. Further disclaimers apply.
* Total annual expenses are based upon information provided by the vendor. They exclude potential costs that will vary according to the purchaser. Excluded costs include, but are not limited to, management and leasing fees, marketing costs, repairs and maintenance.