Ashwood

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Teska Carson is marketing a superbly located retail strip investment with outstanding development prospects at Ashwood in Melbourne’s eastern suburbs.

Located at 481-483 Warrigal Road, on the corner of Douglas Street, within the heart of the Ashwood shopping strip, the property comprises two single level commercial properties in good condition with a total building area of circa 250 square metres.

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The 408 square metre, Commercial 1 zoned property has two titles and two street frontages totalling over 40 metres as well as laneway access from the rear and on-site parking.

The Commercial 1 zoning allows for office, business, entertainment, community and residential uses as well as retail. A scheme for a mixed-use development for two retail shops on the ground floor and seven apartments over two levels has been designed by Damian Orlando Design.

[smartcode_project:default project_id=27070]

According to marketing agents, Teska Carson’s George Takis and Larry Takis, the property will be sold subject to two leases at a combined annual rental of $55,377.

George Takis said the well maintained property offered a prime investment opportunity with development upside and short term lease income, as well as owner-occupier potential, in one of Melbourne’s most tightly held village strips.

Larry Takis said the first rate public transport amenities with Ashburton, Homesglen, Alamein &amp; Jordanville train stations in close proximity added further to the property’s growth prospects.

The property will be auctioned on Friday, May 7 at 12pm on site.
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A scheme for a mixed-use development for two retail shops on the ground floor and seven apartments over two levels has been designed by Damian Orlando Design

Ashwood

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