4 Watts Street BOX HILL, VIC 3128

Auction | Thursday 13th June 2013 at 11.30am on site

Rare opportunity to secure a 2 level office building in the heart of Box Hill with endless opportunities. The property is fully occupied to two long term tenancies on a new Three (3) year + Three (3) year lease providing an income stream whilst you take up the opportunity to develop the approved planning permit of 28 apartments and 2 offices. Both Tenants are aware of the development potential and therefore have signed the leases with a demolition clause enabling you to be in control of your investments future.

• Land Area: 723sqm (approx.)
• Building Area: 556sqm (approx.)
• Zoning: Business 2 Zone
• Approved Planning Permit: 28 Apartments & 2 Offices
• Total Return $113,000 per annum plus GST and Outgoings

Ground Floor
* Returning $55,000 per annum plus GST and Outgoings
* Term: Three (3) Years + Three (3) Years
* Reviews: 3% annually

First Floor
* Returning $58,000 per annum plus GST and Outgoings
* Term: Three (3) Years + Three (3) Years
* Reviews: 3% annually

Follow link for Information Memorandum -

http://www.raywhitecommercial.com.au/property-detail/967101?section=listing

For further details please contact Brett Diston 0439 365 532 or David McGuinness 0433 322 443