A 180sqm combined corner retail and residential property has hit the market in Cheltenham promising developers approved permits for three designer apartments, including an inspiring penthouse on the top floor.
Scheduled to go under the hammer late next month with leading agents Ray White Cheltenham, the site offers a scope of options for prospective developers, including refurbishing the current space, redeveloping the site, or continuing the existing lease agreement.
The site itself sits within 20km of Melbourne’s bustling City precinct, with local infrastructure providing efficient transport to nearby parks, reserves, and Bay beaches.
In terms of suburb demographics, research reveals that median unit prices have substantially increased to nearly $550,000 as at the beginning of 2016, whilst almost a third of the suburbs population are families.
This exceptional site can be viewed by visiting http://www.developmentready.com.au/properties/88-cheste... for further information