255-259 Bridge Road , Richmond

350.00m2
Land/Development
Contact Agent

SPRAWLING INNER-CITY DEVELOPMENT WITH INCOME

Gross Waddell ICR is pleased to offer for sale 255-259 Bridge Road Richmond. Residing on a strategic landholding favourably zoned C1Z, the property offers significant holding income with substantial development upside (STCA).

Strategically located on the bustling Bridge Road, the property enjoys proximity to the thriving Ark development and Richmond Quarter, with Church Street merely moments away. Its prime positioning ensures direct access to Melbourne's CBD, as well as its renowned sporting and entertainment precincts, solidifying its status as one of the city's most sought-after addresses.

• Substantial 620 sqm* landholding favourably zoned Commercial 1 Zone (C1Z)
• Considerable surrounding height precedents of 8-10 storeys with proven build-to-rent, build-to-sell and hotel developments (STCA)
• Existing 2 level retail freehold with 4 separate tenants over 350 sqm* of building
• Benefitting from holding income of $138,800 net pa* plus GST
• Conveniently located in Melbourne’s most premier city fringe suburb of Richmond, only 1.5 km* from the Melbourne’s CBD
• Prime positioning just steps away from a bustling retail and lifestyle hub, boasting a variety of well-known shops and trendy dining spots
• Located directly next to Richmond Quarter (Home Richmond) which offers luxury residential apartments with exclusive hotel-style services
• Conveniently located near multiple public transportation options, including nearby train stations and a plethora of tram and bus routes easily accessible on foot

This represents a rare opportunity to acquire a prime development site in one of Melbourne's most dynamic and desirable locales. For further details please contact the exclusive sales agents at Gross Waddell ICR.

*approx.

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Level 1, 30 Collins Street
Melbourne VIC 3000