7 Church Street, Bayswater VIC 3153

Property Details: • Type: Vacant Land

• Bedrooms: 0 • Bathrooms: 0

Description: Land in this area is scarce, so when an opportunity to purchase a block this size, in the heart of town, with a multitude of options available as to what you can do with it, it deserves some attention. Sub-divide into town house sites, construct a childcare centre or medical precinct (STCA) or utilise the permit our current owner has in place to construct a 5-level residential apartment building, plus basement carparking and rooftop communal space. This development represents an outstanding opportunity to make your mark on the Bayswater skyline and to sweeten the deal even further, we potentially have a buyer in place, for the entire building once completed, at an already agreed price, allowing a significant profit margin, for the lucky purchaser/builder. With governments pushing for more housing, this opportunity to purchase a site of approximately 1,878m2, walking distance to the local supermarket and other shops and just off the Mountain Hwy, with an approved permit to build a 45 apartment, multi-story building has to be looked at by the astute investor/developer. Costings are available for the project and an introduction to the government department already lined up to purchase the finished product can be made. All you need to do is fill in the blanks and build and complete the project. A significant margin has been factored in. Plans, permits and costings for the building of the apartment complex, as provided by the current owner, who is now tied up in another very successful business venture not allowing him time to complete this project, are available upon request. Should you not wish to build the existing permitted plans and building, you could sub-divide the block any way you choose, STCA and zoning requirements. With investment returning to Victoria and a push from government to build more housing, more demand being placed on housing from the private sector and government. For more information, please call Rod Capuano on 0414 960 000.