An opportunity to purchase one of the most unique and blue chip residential development sites in the heart of Como and only metres from the South Perth border.
The corner site, comprising of eight individually strata titled (single owner) two storey townhouses nestled on 2190sqm of prime and elevated land all capturing river or golf course vistas. All units are currently rented on short term leases for no longer than six months, with ample scope to increase the rental return and yield. Two of the early 1980's solid built townhouses each comprise three bedrooms and two bathrooms, five townhouses comprise three bedrooms and one bathroom with two toilets and one townhouse comprises two bedrooms and one bathroom. All eight townhouses have undercover parking. The units are in good condition, lease easily and have scope to renovate and add value.
With a current residential density zoning of R30/50 this site is incredibly versatile and with it comes many future development options to consider and explore. One option (subject to relevant approvals) is the proposed subdivision shown in the photographs.
Secure your next project with a site earing a modest income (approximately $178,000 per annum) while you decide on your next move. Enjoy strong capital growth based on the strategic location being within easy access to popular amenities at Preston Street and Mends Street while surrounded by transport routes and easy access to freeway North and South of the river.
To be all sold together offering the next developer full control to either renovate, re develop or landbank long term.
A once in a lifetime development opportunity in the City of South Perth.
Unit configurations -
- Unit 1: 3x2x2
- Unit 2: 3x1x2
- Unit 3: 3x1x2
- Unit 4: 3x1x2
- Unit 5: 3x2x2
- Unit 6: 3x1x2
- Unit 7: 3x1x2
- Unit 8: 2x1x2
Rates - Year Ended 30 June 2022
• City of South Perth $13,690
• Water Corp. Service Charges $8,253
• State Revenue Land Tax $14,482