Axia Corporate Property are pleased to offer this prime residential investment/development opportunity on Mill Point Road, South Perth.

The site is currently improved with six apartments which are in reasonable condition and are fully leased. the current rental return could be improved significantly through minor cosmetic enhancement.

Alternatively, previous Development Approval (now lapsed) had been granted for a prestige 8 level apartment complex housing 1 duplex apartment over the top two floors, 5 full floor apartments, swimming pool, common amenities and secure under croft car parking. The property is leased on short tenancies so could be available for a full scale redevelopment and proponents are asked to make their own enquiries with The City of South Perth.

Investment Highlights

• Rare opportunity to acquire a small freehold apartment complex in prime South Perth location
• Significant rental growth potential
• Located within one of Perth’s premier apartment precincts
• One of Perth’s strongest rental markets
• Previous development approval for luxury full floor apartment complex
• Holding income
• Potential views to CBD and River to the North and Perth Zoo and River to the South
• Proximity to Perth CBD
• Easy access to Kwinana Freeway
• Part of the South Perth Town Planning Scheme No.6 and (Zoned) Residential R80/100
• Generous development height allowance of 28 metres
• Walking distance from the ever popular Mends Street Retail/Café strip
• Perth Zoo, Royal Perth Golf, South Perth foreshore and parklands all within close proximity
• Affluent and appealing residential catchment

This is an excellent site which would suit investor or developers and should be inspected to appreciate its full potential. For further information please contact Matthew Hopkins 0410 724 972