Property ID: 1P1383

57 and 59 Chatsworth Quad Templestowe Lower VIC

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  • Retail
  • For Sale
  • 266 sqm
  • 370 sqm
2 Shops and Development Potential in a Pretty Neighbourhood
The sale offers great opportunity to capture both ongoing investment incomes and realistic, substantial capital gains.

Currently there are two shops on site, boasting 12.4 meters frontage in total, being rented to a karate school on a long term, secure lease with return of $49,754 excluding GST, plus tenant's share of 100% of outgoings.

Development plan and permit is in place for -

292sqm apartment units upstairs (4 X 2 Bedrooms)
168sqm retail shops (2 shops) downstairs
4 on site car spaces, side by side and behind the shops,

at elevated position with broad views around in a neighbourhood featuring quiet, leafy ambience, wide streets, easy access to beautiful parks and family-oriented lifestyle. Median unit prices in this inner East suburb is $970,000, after increasing 3.7% in the last 12 months.

Currently permitted development sunset date is 36 months away.

Great opportunity to lock in secure and superior long term returns in the current context of economy uncertainty!

Contact the agent for more information or inspection request -
Justin Tang 0468 684 111

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