$4 million expected for rare river frontage site in Hawthorn

$4 million expected for rare river frontage site in Hawthorn
Staff ReporterSeptember 25, 2016

A property on the Yarra River in Melbourne's HAWTHORN is on the market with expectations higher than $4 million according to agents Teska Carson.

The property, 96 – 98 Morang Road, comprises a two level commercial office building (nonconforming use rights) with four separate tenancy areas over 870 square metres, and two separate car parking areas providing for 19 car spaces on a generous 1180 square metre site zoned Residential 3 (R3Z).

It will be auctioned Thursday, 20 October on site.

Teska Carson’s Tom Maule said the property is currently leased to three separate tenants with a current income of $150,600 per annum with a potential fully leased income would be circa $185,000-$200,000 per annum.

Editor's Picks

City Beat January 2025: Sydney property market cooldown slows as new apartment pipeline ramps up
26 Vista Street, Surfers Paradise apartment development, hits 70 per cent sold
Latent Defects Insurance 101: What is the Technical Inspection Service (TIS) Program
City Beat January 2025: Gold Coast property values continue to grow as off the plan enquiries hit near 12-month high
Live parkside in Melbourne for under $500,000