Multiple or Grouped Dwellings are permitted, and with Multiple Dwellings becoming the latest trend for this area, this lot can support the construction of 8 Apartments all 2 Bed 2 Bath is possible!
But wait, there is more – the lot next door at 206 Kooyong Road is also available and this means that you could amalgamate the two lots to give a massive 40.24 metre frontage and a land area of 2,024 sqm. As the two lots sit side by side, you could develop with a common driveway, thereby increasing the total number of Apartments to a potential of more than double, that is more than 2 x 8 over both lots. Other such developments in the area are selling out before completion!
The price is supported by the most recent sale around the corner in Roberts Road, which was a R20/40 lot of 1,055 Sqm and which sold at Auction on 19th October 2013 for $1,013,000 with brisk and competitive bidding on the day.
This property will go quickly – don’t delay – call or email now!