Ian Hutchison Real Estate are pleased to offer For Sale this outstanding investment / redevelopment opportunity located at

1 LYALL ST (CORNER MELVILLE PDE), SOUTH PERTH

FOR SALE – CONTACT AGENT

This property is located within the Special Design Area of the South Perth Station Precinct and has potential for a Mixed Use Redevelopment up to a height of 41 metres.

The property offers River Views over the Swan River towards Applecross, Melville & Crawley with the potential for more expansive Views if the property was redeveloped.

The property is located very close to Richardson Park, Royal Perth Golf Course, Mends St Shopping Precinct (restaurants, cafes, shopping & Ferry) the Perth CBD and within easy access of the Northbound and Southbound On and off Ramps to the Kwinana Freeway.

Title Particulars:

Lot 4 on Diagram 57927
Volume 1548 Folio 237

Land Area: 1999sqm Frontage to Lyall St: 68 metres

The property has a:

RIGHT OF CARRIAGE WAY (TRANSFER B11585)

which is registered on the Certificate of Title. A copy of this document and also a copy of a professionally prepared Plan showing the Right of Carriageway on the property at a scale of 1:500 is available upon request.

The existing building is a development of units containing

16 x Two bedroom units and 2 x One bedroom units
1 car bay for each unit
Parking is available with access from Lyall St.

Currently all units are leased EXCEPT UNIT 1.

All leases are on Standard Residential Tenancy Leases with lease periods of either 6 months or 12 months. This development generally enjoys a low vacancy rate.

A Tenancy Schedule for the property current as at 5th August 2014 is available for your information.

Please contact Ian Hutchison 0418 922 100 for further details on the Outstanding Opportunity.

Council Rates: $22,239.20
Water Rates: $13,058.50
Land Tax: $2,147.00