56-58 Elizabeth Street,
Richmond, VIC 3121

A rare opportunity exists to acquire this exceptional corner site/investment property with three street frontages and re-development potential (subject to council approval) in the future - options are endless. Build apartments, subdivide or keep as is (STCA) the choice is yours, reap the rewards now and forever.

Land Size: 16.51m x 30.18m
Land Area: 497.36 sqm approx

Building Area: 250sqm approx

Zoned: Residential 1

Plans available for Architect designed state of the art environmentally friendly construction of a four level plus basement building comprising:
- Ground Floor 149sqm approx cafe
- 3 x 2 Bedroom Two storey townhouses
- 3 x 2 Bedroom Apartments
- 5 x 1 Bedroom Large Apartments
- 8 Basement Carparks

Currently leased at $50,800 per annum increasing to $52,000 approx in May 2013 with the tenant paying all outgoings.

Lease: Five (5) years expiring May 2016 with one further term of Five (5) years and annual CPI increases..