2 Paterson Street, Hawthorn VIC 3122

Positioned on the fringe of Hawthorn's prestigious Urquhart Estate near some of the area's most prominent homes, this 630sqm (approx.) parcel presents outstanding investment or redevelopment potential just a short stroll from the Glenferrie Road precinct and its surrounds. Potentially returning circa $50,000-$60,000pa* as a car park for 24 vehicles, the opportunity exists to retain its current function and reap the income returns driven by its walking proximity to Swinburne University, Boroondara community services and Glenferrie Road's retail, dining and entertainment attractions. Alternatively, following the success of others nearby, plan a boutique development in one of Melbourne's most prestigious lifestyle locations (STCA). Highlights include NRZ3 zoning, easily accessed east/west parcel with 17.68m frontage and side ROW, invest or occupy pending planning approval with minimal outgoings, walking convenience to virtually every amenity in one of Melbourne's most prestigious locations, minutes to leading local and private schools, easy access to transport, the CBD and major arterial links.
*Conservatively based on 24 car spaces x $10 per day, 5 days a week 48 weeks of the year = $57,600.
NB GST is payable on the purchase price