OPPORTUNITY AT THE CROSS ROADS
GrayJohnson is pleased to offer for sale this single-storey retail property, currently tenanted by a hospitality business. 487 North Road, Ormond is located just one door back from the crossroads of North Road and Katandra Road, the location of Ormond railway station. With excellent exposure to North Road, one of the south east’s major arterials, it is well-positioned in a very busy shopping strip.
While currently returning $47,754 per year as an investment property, the site has strong mixed-used development credentials. The retail premises occupy the front section of the block, with land at the rear currently under-utilised. It has the potential to accommodate up to six apartments or two town-house style dwellings (subject to planning approval).
Ormond is a desirable, primarily residential suburb with good access to schools and public amenities. The potential of the property as a residential/mixed use development is reinforced by its proximity to Ormond station, just a 25-minute train ride from the city.
• Single-storey retail premises
• Land Area 247 sqm approx
• Building Area 100 sqm approx
• Rental: $47,754 pa net plus GST with 3% annual reviews
• Excellent development potential
• Commercial 1 zone
• Very busy shopping strip location
• Prime main road location
• Just steps from the train station
• Commercial 1 Zone
Auction Friday 9 June @ 12 noon
For more detail contact Rory White 0439 655 504 or Anthony Boldrini 0468 519 472.