South Melbourne Land Bank with Significant Income
The property is a parcel of land that has been utilised as a substation for over 50 years and so provides as a land bank opportunity with enormous development upside. It is positioned in a Capital City 1 Zone, allowing a wide variety of development outcomes.
Location Description: Strategically located only 500m to Docklands/South Wharf and 1.2km from the Melbourne CBD, the property is in a rapidly developing inner city location.
Sale Process: On market expression of interest campaign.
Tenancy: The building is fully leased to a long standing tenant, CitiPower on a short term lease.