ATTN INVESTORS AND DEVELOPERS – Be quick to snap up this rare corner site within the Canning Bridge Precinct Activity Centre. Blocks of this size within this higher density zoning are unique and sought after. There are only 5 villas on the site, making it an easier development prospect and acquisition.
Key features:
2016sqm site on the corner of Canning Hwy and Jane Rd Applecross
Canning Bridge Activity Centre Plan, mixed-use developments up to 10 storeys with potential for a 5 storey bonus (subject to Council approval)
Ideal for developers or investors seeking opportunities in residential and commercial spaces
5 free standing villas, 3 with 3 bedrooms and 2 bathrooms and 2 with 3 bedrooms and 1 bathroom
Potential rental income for all 5 units estimated at $169,000 per annum ($650 per week as an average)
Excellent position close to the river, transport links, local shopping, cafes and restaurants
Council Rates: $8707.10 P/A (for all 5 units)
Water Rates: $5923.10 P/A (for all 5 units)
Strata Levies: $5500 (for all 5 units – includes Strata Insurance, lawn mowing and common area water usage)
Link to the Canning Bridge Activity Center plan – https://www.melvillecity.com.au/our-city/publications-and-forms/urban-planning/canning-bridge-activity-centre-plan-february-2016
Disclaimer: All development options are subject to WAPC and City of Melville approval. Buyers are informed to conduct due diligence before proceeding.