28-32 Albermarle Street, Kensington, VIC 3031

Development/Land

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  • Property ID: 393725
  • Floor Area: 600m²
  • Land Area: 746m²
  • NBN Availability: Service Available - Fibre to the curb (FTTC)
Sold / Leased Results

Name Result Date Floor Land Result Price
Total Sold N/A 600m2 746m2 Contact Agent
APPROVED PLANS. PRIZED LOCATION.

POINT OF INTEREST:
Imagine a place where design meets functionality. Where light filled indoor spaces are seamlessly integrated with the environment outside and lifestyle is a choice without compromise. This is what has been carefully taken into consideration when designing this exciting new development opportunity at 28 – 32 Albermarle Street, Kensington - located on the city's edge.

Fast becoming one of the most sought-after suburbs for professionals, families and residential investor’s keen to benefit from this already well-established community vibe, Kensington truly has it all. With walking distance to local shopping, cafes and walking tracks, the choice of either Macaulay and Kensington train stations and close proximity to North Melbourne, Flemington Racecourse and the CBD, this precinct is set to soar with the development of the new Arden railway station just nearby, connecting directly to the Melbourne Tullamarine Airport by 2029 - https://metrotunnel.vic.gov.au/construction/north-melbourne/arden-station

THE SITE:
- 746 sqm* land area
- 600 sqm* single level brick warehouse
- 25 metres* street frontage
- Dual street aspect with laneway access
- On the fridge of the Arden Urban Renewal Precinct

THE DEVELOPMENT:
- Approved planning permit for 36 specialized units
- Including 2 ground floor commercial spaces
- Mixture of 1 and 2 bedroom apartment plus generous outdoor spaces
- 6-storey development plus basement parking level
- Bike rack storage area

THE INCOME:
- Currently leased to Marcus Group Pty Ltd
- Rental of $42,000.00p.a. plus outgoings and GST
- Lease term of 3 years and 9 months plus further 2 year option.
- Each party may terminate the lease with 30 days written notice. (as per lease agreement conditions)

POINT OF VIEW:
With city fringe residential developments in short supply and huge growth in build-to-rent projects, developers are searching for suburbs that can already offer more than just four walls. Kensington, with it's transport links, public transport, local schools and village style shopping ticks every one of these important boxes.

*Approx.
Pricing excludes GST

Additional Information
Features
  • Availability: Upon settlement
  • Car Spaces: 2 onsite parking spaces
Outgoings
  • Water Rates: $1,252.06p.a.
  • Land Tax: $37,457.46p.a. approx
  • Council Rates: $6,314.74p.a. approx
  • Owners Corp. / Insurance: N/A
Kensington Suburb Profile

Average Advertised Price
Property Type Price (m²) Rent (m²/p.a.) Yield
Industrial --- $98 ---
Retail $7333 $238 3.25%
Offices --- $168 ---
This is the average advertised price, rent and yield for Kensington, VIC 3031*
* Excludes, where applicable, GST, outgoings and incentives. Values calculated based on the prices advertised by the agencies that list their properties on Commercial Property Guide.

Property Detail Notes:

  • NBN Availability - Where this address stands within the nbn™ rollout. Possible statuses: Not currently available, Build preparation, Build commenced, or Service Available. Information provided by nbn™.
  • 3rd Party Content - The information displayed on this page is supplied by registered real estate agents and other third parties. For questions regarding the information that appears here please contact the agent that is listed.
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