CZ2 Zone
Land Area: 240 m2
Develop, Invest or Occupy
Nestled in one of Australia's premier commercial precincts, this property offers substantial development potential (STCA). Its advantageous location within the CZ2 zone, coupled with the impressive heights achieved by neighbouring state-of-the-art buildings, current approved permits on Howard Street and the surrounding area, presents an unrivalled opportunity.
The property features a two-storey period residence comprising three bedrooms, parking for 2 vehicles via rear right of way, plus a further 2 car garage via a crossover to Howard Street. Totalling 4 off-street car parks and a north-facing rear garden.
As a prime site on a street that the City of Yarra has earmarked for development, the property benefits from holding income and potentially limited planning risk based on the recent benchmarks set by other developments in Howard Street (STCA).
High demand surpasses the supply for boutique office spaces and commercial buildings in Richmond and Cremorne, primarily due to the scarcity of quality development sites. Despite this, the leasing and resale of these properties continue to thrive, driven by the strong fundamentals of Richmond and its surrounding areas.
Richmond offers excellent connectivity to various transportation options, a diverse selection of food and beverage establishments, as well as schools, preschools, and day-care facilities.
Disclaimer:
All information about the property has been provided to Castran TM Pty Ltd by third parties. Castran TM Pty Ltd has not verified the information and does not warrant its accuracy or completeness. Parties should make and rely on their own enquiries in relation to the property.
