$4 million expected for rare river frontage site in Hawthorn

$4 million expected for rare river frontage site in Hawthorn
$4 million expected for rare river frontage site in Hawthorn

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.

Tags: 
Commercial Auction Yarra River

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