High-Density Development Potential in Key Transport Zone
GrayJohnson is excited to bring to market this exceptional property, strategically located close to Sandringham Station, which has been designated by the Victorian Government as a key “Train and Tram Zone” activity centre under its housing initiative.#
This property offers immediate income and exceptional potential for conversion or redevelopment. A concept plan for an 12-storey mixed-use project has been prepared by CJY Architects.
Alternatively, with lofty ceilings and a large basement cable chamber, the property provides a blank canvas for an investor or future owner-occupier to reposition the premises for a range of uses, including retail, hospitality, medical, creative offices or a gallery.^
A lucrative leaseback to Telstra provides time to progress renovation plans, or to submit plans and permits to Council for a high-density, mixed-use development.^
The opportunity
• Building area 560 sqm* on land 974 sqm*
• Two street frontages
• Leaseback to Telstra: 3-years (with early termination clause+) plus 18-month option
• Favourable Commercial 1 Zoning
The location
• Prominent corner position in Sandringham Village
• 240 metres* to Sandringham railway station
• A multitude of shops, eateries and professional services on the doorstep
• 6-minute* walk to Sandringham Beach
• Ready access to major arterials
+Conditions apply
*Approx.
^STPA
#source: www.premier.vic.gov.au
For further information about this property contact:
Rory White 0439 655 504 or Matt Hoath 0418 543 714
