• News

BE SPOILT FOR CHOICE - Property Weekly

Posted on 25 October 2019

Vinci Carbone Property's team of Stephen Speck, Frank Vinci and Joseph Carbone are marketing seven strata­ titled blocks of apartments for sale, with locations in Ascot Vale, Box Hill, Chadstone, Essendon, Fawkner and Glenroy.

The seven blocks, which are all vastly different in size, layout and style, will be auctioned off individually. "These rare and unique opportunities offer exceptional flexibility which will appeal to both astute developers and investors in proven locations and at various price points," said Speck. "Astute developers and investors will recognise multiple opportunities to maximise return, with scope to hold and invest, refurbish and maximise income, refurbish and sell down (properties are already strata-titled), or redevelop with substantial landholdings in key suburbs."

8 James Street, Box Hill is a substantial block of 17 apartments on an approx. 227 9 square metre site, located within the Box Hill Activity Centre precinct. The property's current passing of $249,996 (approx.) per annum takes into account two units being left vacant for site inspection purposes. This property adjoins 499 Station Street, a site with three townhouse-style villa units on approx. 745 square metres of land. All units are currently leased and returning $54,180 per annum. 8 James Street will be sold via on-site auction on Wednesday, 13 November at 1pm, while 499 Station Street's on-site auction will take place at 1.30pm.

9 Rae Street, Chadstone is a 1368 square metre (approx.) site comprising four single-level residences. All units are currently leased and returning $79,776 (approx.) per annum. The property will be sold via on-site public auction on Wednesday, 13 November at 11am.

42 Roseberry Street, Ascot Vale is a three-level, eight-unit apartment complex located on approx. 892 square metres. All units are currently leased and returning approx. $114,180 per annum. It will be sold via on-site auction on Thursday, 14 November at 11am.

7 Salter Street, Essendon is an approx. 1937 square metre dual-fronted site with 13 two-bedroom units. All apartments are currently leased and returning $186,744 (approx.) per annum. It will be sold via on-site public auction on Thursday, 14 November at 12.30pm.

10 Lynch Road, Fawkner is a complex of four single­ villa units sitting on approx. 1106 square metres of land. All apartments are currently leased and returning $52,104 per annum. The property will be sold via on-site public auction on Friday, 15 November at 11am.

24 Acacia Street, Glenroy is a corner block of approx. 969 square metres, comprising four two-bedroom villa units that are all currently leased and returning $55,644 (approx.) per annum. It will be sold via on-site public auction on Friday, 15 November at 12.30pm.