Occupy, Invest or Develop! In the heart of Midland!
- METRONET East Re-development Precinct
- Existing functional improvements
- Current holding income
The property is situated within the rapidly evolving METRONET-East Redevelopment Area. More particularly it is situated within the Victoria St Precinct which states "Retail and commercial uses will be focused around Great Eastern Highway, as the gateway to the Project Area and Precinct, The Crescent, Cale Street, Helena Street and Victoria Street. Residential and supporting commercial uses will be spread across the precinct, with higher intensity surrounding the Midland transit station". Development guidelines indicate that potential mixed use development will be allowed to approximately 9 storeys.
The property comprises a regular shaped 840sqm parcel of land with a generous frontage to Cale St of 22.25m. Whilst poised for future re-development, the property also features existing functional improvements that could be utilised for owner occupation or alternatively leased to provide valuable holding income. Improvements comprise an original brick and tile dwelling which have been converted for commercial use. Internally the improvements offer an element of old world charm with polished floor boards & high ceilings and would suit various commercial operations including office, medical and consulting rooms.