FOR SALE
$5,500,000 - $5,800,000

426-430 Canterbury Road
Surrey Hills VIC 3127

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 1139m2
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Permit Approved 5-Level 72 Serviced Apartment for Sale in Prime Surrey Hills Location with High Long Term Rental Return when Build

A substantial permitted 5-level residential development site is located on a commanding corner position on one of the best corner allotments in Surrey Hills - Canterbury and Warrigal Road with the additional benefit of a rear ROW.
The 1,139 sqm corner landholding, with a Commercial 1 zone, has a recently issued permit approval for a five-level project, currently designed for 71 serviced apartments, plus associated retail and conferencing areas, but with flexibility to accommodate several uses based on the zoning.
The property is an amalgamation of two titles and boasts a combined frontage of 99 m* to Warrigal Road and Canterbury Road with the added advantage of a rear ROW providing exceptional exposure and design flexibility.
The property is presented to the market for sale at a time when there have been limited blue chip opportunities. On the doorstep of a highly regarded Union Road shop and the Surrey Hill Train Station, the property has excellent amenities in easy walking distance to complement the already outstanding fundamentals with Surrey Hills.
This purchase comes together with a signed Agreement For Lease with a multinational company that offers rental guarantee for the next 20 years. (Conditions Apply)
Key highlights of the property include:
- Permit approved for a 5-level development featuring 71 serviced apartments, a ground floor cafe and a conference centre
- Commercial 1 Zoned land holding of 1,139 sqm*
- Combined street frontage of 99 m* to Warrigal Road and Canterbury Road with additional ROW access
- 2 titles with improved existing buildings generating a short-term holding income
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Property Details for 426-430 Canterbury Rd, Surrey Hills

Building Type
Land
Land Size
1139m2

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About Surrey Hills 3127

The size of Surrey Hills is approximately 4.4 square kilometres. It has 13 parks covering nearly 3.4% of total area. The population of Surrey Hills in 2011 was 13,132 people. By 2016 the population was 13,605 showing a population growth of 3.6% in the area during that time. The predominant age group in Surrey Hills is 40-49 years. Households in Surrey Hills are primarily couples with children and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Surrey Hills work in a professional occupation. In 2011, 76.1% of the homes in Surrey Hills were owner-occupied compared with 76.3% in 2016.

Surrey Hills has 6,910 properties.

    There are currently 9 properties listed for sale, and 3 properties listed for rent in Surrey hills on OnTheHouse. According to CoreLogic's data, 312 properties were sold in the past 12 months in Surrey hills.

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