Under offer
Knight Frank is proud to present for sale "Kings Park" South Melbourne.
This ideal development opportunity is comprised of plans and permits for 44 large apartments and 6 exceptional townhouses. With a prime corner location offering extensive exposure and premium amenity, an astute developer will see the upside in the site.
The Church on the site, houses a childcare facility to provide some great holding income with potential to significantly increase the current rent. The plans have incorporated the townhouse scheme into the Church providing a magnificent mixture of the old and new to create a premium product.
Ideally located on the fringe of the city only moments from the Albert Park Lake, restaurants and cafés providing the developer confidence in end user amenity. A short walk to the Botanical Gardens allows for a mixture of parklands and recreational facilities in this convenient location.
Current holding income attached to both the Church (via a childcare facility) and also the office building allows for a buy and hold opportunity (with potential uplift in current rents) or immediate development.
To inspect the property or for further details, please contact the agents below.
Remember to mention you found this property on DevelopmentReady
