West Melbourne warehouse listing with residential renewal potential
A converted West Melbourne warehouse, currently comprising four separate residences, has been listed with $2.5 million expectations.
The four three-story residences have previously been leased for a combined $128,960 per annum total.
The building has two street frontages, on Franklin Place and McDougall Lane, and concept plans prepared by Hamilton Design allow for six floors within the existing roofline, as well as ten car parks.
Its Melbourne City Council zoning is mixed-use.
The neighbourhood has a mix of residential, retail and commercial properties, making the property suitable for a variety of uses within walking distance of the CBD, Flagstaff Gardens and Docklands stadium.
It has been advertised as an "outstanding opportunity for investors and developers, subject to council approval."
Expressions of interest close June 26 with Leonard Teplin, the Marshall White Real Estate Melbourne agent saying he has received “solid interest” so far for the offering by Jim Manolios.
