This is a rare opportunity to secure property with land size of approximately 3732m2 Zoned – Residential General 1 - there is potential for future significant development STCA. The property is currently operating as a Boarding House & is permitted to operate as a Medical Centre, Aged Care Facility, Place of Worship plus several other options. The current rental return is $109,115 per annum. The building is expansive offering 865sqm approx. with 13 bedrooms, 6 bathrooms, a common lounge & dining area, kitchen, managers offices & staff room. The property is fitted with hydronic heating and split system air conditioning units.
Positioned with immediate access to arterial routes including Eastlink, Peninsula Link & Frankston Freeway in prime Frankston location near schools, shops, public transport, doctors and sporting grounds in the fast growing Frankston precinct this is one to add to your portfolio and build your wealth.
Currently leased until 1 July 2021
Fixed annual rent increases
Approximately 3732m2 site
+ further 15 year option to 2036
+ Fixed annual rent increases
+ Expansive building of 865m2
+ Substantial 3732m2 site 1km from Mount Erin College with immediate access to arterial routes including Eastlink, Peninsula Link & Frankston Freeway
+ Net Income: $99,195pa + GST
+ Land Tax Exemption - compensation re special needs accomodation
Call Jenny on 0432 685 961 or email [email protected] to register your interest today.