A rare opportunity to secure 1030sqm (approx.) of high density residential land (GRZ4) ready to re-development (STCA). With a large rental return of $188,737 per annum and increasing by 5% on 31/01/2024 there is a good income being generated while you organise your plans and permits before the lease expires on 30/01/2025.
Highlights:
• Large 1030sqm (approx) high density development opportunity (STCA
• Multi-Unit Development potential (STCA)
• General Residential Zone – Schedule 4 (GRZ4)
• Currently Leased at $188,737 p/a
• Rental increase 5% on 31/01/2024 taking income to $198,173 p/a
• Lease expires 30/01/2025 with no further options
Location:
• 200m to Woolworth Boronia
• 300m to Boronia Train Station
• 400m to Boronia Metro Cinema
• 500m to Boronia K-Mart
• 500m to Boronia Coles
• 600m to St. Josephs Primary School
• 1.1km to Boronia K-12 College
• 10 min Drive to Westfield Knox
• 15 min Drive to Westfield Eastland
• 10 min Drive to Eastlink Freeway
+ 1