The hard legal groundwork has been laid with approved plans and permit for 18 apartments on this magnificent 1171sqms (approx.) site in the lifestyle hub behind village shops, cafés and the Ringwood East train station.
Quality design by ZAI Building and Urban Designer, with a mix of 1, 2, 3-bedroom designs opens up huge opportunity to an astute investor wanting to capitalize on this vibrant pocket in the leafy outer east: close to shopping, dining and entertainment at Eastland, beautiful walking tracks at Ringwood Lake, public and private hospitals and zoned for popular Eastwood Primary which ranked in the top 25 primary schools for academic performance and Ringwood Secondary College which is among Melbourne's top 200 schools for VCE scores.
With rising demand from first home buyers, investors and downsizers, this is development gold ready for the next exciting steps to success: off-the-plan selling, construction, and ultimately reaping the financial rewards of building 18 boutique mid-rise apartments on this spectacular north facing corner.
Currently leased month to month for an income stream before the site fulfils its potential for highly appealing contemporary living in the suburb which has grown its median house sale price to $1.1 million and its unit price to $755,000, alongside neighbouring Ringwood North which has now outpriced Melbourne Metro with a prestigious $1.3million median price tag. (Source: REIV 2021 Q4) Property ID: #VVS7634