This is an exciting opportunity presented to the market for the first time in over 10 years, boasting flexibility and development upside on a prime 804sqm corner block.
Located in a high exposure position ideal for a local business, this former service station turned car wash features Development Approval for a new convenience store and an opportunity hard to find within suburban Sherwood. If development upside is your priority then get started straight away.
The previous lease returns for the site in its current configuration (Duckwash car wash) returned over $70,000 per year and could be easily reinstated with minor updates, making this a sure and certain landbank investment.
Zoned LMR, the opportunity also exists to submit a new DA and create a townhouse or unit project close to excellent local amenities (subject to council approval).
Property Overview:
- 804sqm corner block zoned LMR with DA approval for a convenience store
- Former service station turned car wash with previous lease returns of over $70,000 pa
- High exposure position with frontage to Oxley Road and Jerrold Street
- Opportunity to submit a new DA for a townhouse or unit project
- 400m from the Corinda precinct with Coles, cafes and restaurants
- 600m from Sherwood Central with Woolworths and shops
- Walk to schools, childcare, parks, buses and train stations
Presenting plenty of opportunity and development potential, this is a rare opportunity in a standout position.
