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Development Opportunity with Holding Income $2,200,000 95 Champion Drive, KELMSCOTT

Price has been reduced on this very strategic development site at 95 Champion Drive in Kelmscott.
The site, one of the few remaining undeveloped on this busy road, has been in the same family ownership for the past 22 years and is now offered for sale.
Development has just commenced on the next door property which will accommodate a new 7 Eleven Service station and shop as well as showrooms which enhances the prospect of similar development on the vacant front portion ( approx 3250m2) of this property at 95 Champion Drive. 
The property is also over the road from the Champion Drive Shopping Centre (Coles) as well as a substantial medical centre and residential development. 

The property has a total land area of ***6237m2 **** which is 1 1/2 acres in the old language .
The front of the property (approx 3250m2) has an Industrial Business zoning that would suit a new showroom development (subject to City of Armadale approval) whilst the rear of the property (approx 2987) has a general industrial zoning and already has 6 brick and tin roof factory units with a total building area of 1326m2.
Existing factory sizes are as follows: 
Unit 1  263m2 plus 80m2 yard area 
Unit 2  200m2 plus 50m2 yard area
Unit 3  200m2 Plus 50m2 yard area 
unit 4  200m2 Plus 50m2 yard area
Unit 5  200m2 plus 50m2 yard area
Unit 6  263m2 Plus 50m2 yard area
Fully leased the property has the capacity to produce around $100-$110,000 per annum Gross income which is substantial and provides excellent holding income whilst the front of the property is developed into additional showrooms or factory units.(There is an old house on the front of the property that is also currently leased)

The property has numerous develop and hold, or develop and sell options available and is an exciting development opportunity in a high growth area. 

Contact Mike Dunsmore on 0413 754 110 for a viewing or additional information on this site.

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Lot Size
6236m2
Price
$2,200,000
Development Opportunity with Holding Income
KELMSCOTT, WA 6111
Suburb: KELMSCOTT
Sale Type: For Sale
Ref #: 18727247
Category: Commercial
Mike Dunsmore

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