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• 6,151sqm of freehold land - landbank or develop
• Favourable THAB zoning provides for high-density development options
• Holding income from 14 residential tenancies, returning circa $320,000pa
• Prime position in touching distance to the Southwestern Motorway
A unique opportunity offered to the market - landbank or develop. The property comprises a combined 6,151sqm of land (more or less) across three separate titles, with favourable THAB zoning - providing for high-intensity residential development options. Currently returning circa $320,000pa, the property offers the incoming owner the benefit of multiple income streams while planning and development works are undertaken.
Prime positioned on the corner of Richardson Road and Maioro Street – a high profile intersection next to the Southwestern Motorway (approx 200m away), the property benefits from its excellent location. Situated in close proximity is a range of current and future amenities including New World, Countdown, Stoddard Road’s SOHO Hotel (under construction), and Goodman’s Roma Road (Industrial) Estate (under development).
308-320 Richardson Road represents the last sizeable residential development site of its kind in this location.
(boundary lines shown above are indicative only)