776-784 Canterbury Road Belmore, NSW 2192

A secure apartment block investment opportunity with further development upside, 776-784 Canterbury Road, Belmore includes an existing two-storey building of 44 x 1-bedroom apartments with a central courtyard and parking spaces. The site has DA approved for an additional 20 x 1-bedroom apartments on a third level and renovations to the existing facade and internals.

776-784 Canterbury Road benefits from the following key attributes:

• Total combined site area of 3,399 sqm*
• 44 x 1-bedroom apartments with parking spaces
• Dual frontages on Canterbury Road (61m*) and Allegra Avenue (61m*)
• DA approved for 20 x 1-bedroom apartments on a third level and renovations to the existing structure
• Significant opportunity to improve room rentals & property yield by refreshing units & increasing rents to market equivalents in the area
• Gross passing income of $686,660* p.a with significant potential for upside due to improvements and redevelopment
• Strong occupancy track record and a fantastic platform to immediately capture the low vacancy residential market

Auction on the 13th December 2022 at 10:30am
Venue: Auction Room - Mezzanine Level - 50 Margaret Street, Sydney NSW 2000

For more information or to request access to the due diligence room, please contact the exclusive selling agents.

Ray White Dulwich Hill
Steve Kremisis - 0414 818 317
Frank Camarda JP - 0414 854 854