Lilyfield Mixed-Use Building With Development Upside

Details

IB Property is delighted to present the offering of 20-22 Fred Street, Lilyfield — a remarkable mixed-use property brimming with potential. Nestled just a short walk from the vibrant Darling Street, this exceptional building occupies a generous 603sqm* parcel with a 19m wide street frontage. This rare gem boasts a diverse array of maintained residential apartments and commercial office suites, complemented by a separate industrial facility nestled in the basement.

The ground level comprises three spacious and individual 1-bedroom apartments, all currently leased and yielding excellent rental returns. The first floor, encompassing 480sqm*, comprises of an elegantly designed open gallery office and reception area.

At the pinnacle of luxury living lies a breathtaking three-bedroom apartment. This unparalleled residence features a grand foyer entry, a gourmet island kitchen, a versatile piano room, multiple balconies offering captivating vistas, a generously sized outdoor swim/spa pool, and an expansive entertaining terrace—the epitome of alfresco indulgence.

*approx.

Key Features:
– 2 storey commercial freehold building
– Land area 603sqm*
– Secure Tandem Parking for 4 cars
– Net income of $211,923* per annum.
– Fully leased investment opportunity
– Development upside/reposition

20-22 Fred Street will be for sale via Public Auction on Thursday, 16th of May 2024 at 10:30am.

For more information or to book an inspection, contact the exclusive agents Steffan Ippolito 0403 347 111 or Daniel Cipolla 0450 633 644