South Yarra apartment block with development potential listed
The 94 Millswyn Street property is being offered for the first time in more than 50 years
Jonathan ChancellorSeptember 13, 2021
A South Yarra Domain precinct apartment block consisting of six, two bedroom units over three levels has been listed for sale.
The property at 94 Millswyn Street property offers a current income of $75,600 per annum with a potential fully-leased income of $115,200 per annum.
Zoned General Residential – Schedule 5, the 417 square metre site has frontages to St Martins Lane of 32 metres and nearly 13 metres to both Millswyn Street and St Martins Place.
A planning overlay (DDO15-A1) allows for a maximum building height of 12 metres (3-4 levels approx.).
The property is located just 200 metres from the Domain Road cafes.
Offers, that close October 6, are expected to be circa $6 million.
According to Teska Carson’s Luke Bisset and Matthew Feld, the property is being offered for the first time in more than 50 years.
The marketed advised it was "ideally suited to either a luxury apartment redevelopment or blue chip investment."
Jonathan Chancellor
Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.
