Allard & Shelton will offer a prime Toorak Road, South Yarra, investment property for auction this Friday.
The property, at 149 -153 Toorak Road, South Yarra, is fully let returning a net rental of in excess of $180,000 per annum.
Situated on a corner location Allard & Shelton report the property has a solid rental income from 4 established tenants.
According to Allard & Shelton sales director Fred Nucara, 149 – 153 Toorak Road, South Yarra, is an exceptional investment opportunity with exciting prospects for future developments or long-term passive rental income that can only provide investors and developers with the confidence to seriously consider this outstanding offering.
“Whilst the property is currently fully let and returning an excellent rental income, the potential exists in the future to consider a major refurbishment or a high-density mixed use project,” Nucara added.
He said the benefit to both passive investors and investors/developers, is that the property is presently generating a good solid rental income, whilst allowing you to investigate the various project possibilities.
Allard & Shelton will offer the property for auction this coming Friday 9 June at 12 noon on site.
By Kathryn O’Meara
