PROPERTY SUMMARY
PROPERTY DESCRIPTION
These opportunities are rare, and when they do come up the savvy developer and investor knows that you cannot build on that which you do not own. This is an opportunity to amalgamate 308 Prospect Road along with 310 Prospect Road for a combined land holding of 1,300 square metres with a combined frontage of 31 metres to Prospect Road. For the investors 310 is tenanted at $340 per week while 308 is tenanted at $310 per week for a combined total of $650 per week of valuable holding income while you get the plans done and the approvals through council.
$650 per week rental income coming in, while you work with your team of Architects, Interior Designers, Surveyors, Engineers & Builder to create a visual masterpiece leaving your stamp on Prospect Road, one that you can take a lot of pride in knowing you had the vision to secure the site and take advantage of the opportunity on offer.
The depth of these allotments is 42.6 metres which allows you plenty of scope to get your architect to draw up some working drawings and do your numbers. This site lends itself to a number of uses, potential exists for a group of tri-level townhouses or take full advantage of the recent changes to the zoning along Prospect Road to Urban Corridor Zone (Transit Living Policy Area) and push the boundaries a little (S.T.C.C) potentially a 3-4 level multi apartment site. The potential may only be limited by your imagination. There are new development sites happening along Prospect Road and they are not making any more land this close to the CBD and sited so close to the Cosmopolitan vibe of trendy Prospect Road.
This may be your first acquisition of 2016, a project to begin the new year with and to deliver some well finished homes aimed at those who love the location and the simplicity of being able to pedal to the CBD (which is only 6 kilometres away approximately) and the fabulous new Adelaide Oval development. I believe that Adelaide is a great place to live and we are now seeing lots of new bars, restaurants, cafes & food vans. We have lived in the shadows of Melbourne & Sydney for so long but I feel its now Adelaide’s time to shine and to embrace the cafe & coffee culture that our Eastern states counterparts have enjoyed for so long. Prospect Road is a buzz with thriving small businesses and people want to live close to transport, shopping and entertainment; the Churchill Rd Shopping Centre with the new Costco, Coles and Bunnings. Plus a new Aldi Supermarket opening in May 2016; plus the all new Royal Adelaide Hospital opening this year. I think this is a fabulous opportunity to catch that wave and leave your legacy here at 308 & 310 Prospect Road Prospect.
What you will love about this location:
Northpark Shopping Centre: 5 mins by car
Rundle Mall: 15 mins by car
Adelaide Oval: 13 mins by car
Royal Adelaide Hospital: 15 mins by car
St Andrews Hospital: 22 mins by car
Under 6 kms to North Terrace
For more information please email us and request an Information Memorandum to be sent to you. This is an Expression of interest sale with offers closing on February 2nd 2016 at 10.00 am – Unless Sold Prior.
