Melbourne, 6 May 2014 – A unique investment opportunity comprising a prominent mixed residential and commercial complex in Seddon has been listed for sale, unlocking an attractive opportunity in one of Melbourne’s most sought after inner city suburbs.
Located at 69-79 Buckley Street, the modern four-level property comprises 66 apartments, ground floor commercial space and 24 basement car spaces.
CBRE’s Paul Tzamalis, Jamus Campbell and Scott Callow are selling the property on behalf of the Vendor via a Public Expression of Interest campaign.
Mr Tzamalis said the property benefited from a high profile position on the fringe of Footscray’s thriving activity precinct.
“Situated in an impressive corner location with three street frontages, this property represents a rare opportunity to acquire a successful and profitable residential development in Melbourne’s prime western corridor,” Mr Tzamalis said.
“At over 98% occupancy, it is evident there is strong tenant demand in this sought after area – a factor that will no doubt be of interest to potential buyers.”
This property is offered with 66 NRAS incentives that subsidises a strong income stream.
The vendor is divesting this asset to more appropriately align the capital investments with its core business activities within Victoria.
Mr Tzamalis said the property was expected to attract interest from developers and investors looking to take advantage of the high profile location, strong passive income and future upside.
He commented: “This unique combination of strong income, strata title flexibility and a versatile mixed use zone, lays a platform for a multifaceted investment/development opportunity (subject to approval) rarely seen in Melbourne’s market.”
The site benefits from close proximity to a range of amenities including the Victoria University Nicholson Campus, public transport networks, shopping precincts such as Footscray Plaza and Highpoint Shopping Centre, as well as a dynamic array of cafes and restaurants.
The Public Expression of Interest campaign closes Tuesday, May 27 at 5.00pm.
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