Brand New Off the Plan Management Rights Opportunity in Melbourne's City-Fringe
Exclusive to Resort Brokers is the off the plan management & letting rights to Cultivate, a twin tower project comprising 146 mixed-use apartments and retail space situated in the growth hot spot of Heidelberg West.
Cultivate is a considered response to the rapid evolution of Heidelberg West, only 12km north east of the Melbourne CBD, on the cusp of the affluent northern suburbs and close to major health, education and manufacturing hubs.
- Mix of short-term, permanent rental and owner occupiers
- Projected net profit of $596,968 by specialist accountants Holmans
- Site cleared with anticipated completion of Q1 2021
- Strong investor confidence, with sales to date indicating a 65 - 70% investor profile.
- Featuring two towers of 8 and 10 levels with 146 elegant apartments
- Rooftop BBQ and courtyard area which captures stunning city views and an expansive central garden
- In immediate vicinity to Austin Hospital, Mercy Hospital, Repatriation Hospital, Olivia Newton John Cancer Centre, La Trobe University, Ivanhoe Grammar School, Northland Shopping Centre and major light manufacturing centres.
- Major infrastructure investment in education, health and retail sectors driving job growth in the area.
- Underpinned by long-term caretaking and letting agreements
- Ground floor freehold operational areas include 32sqm Manager's office & 15sqm storage ($235K)
- Additional 5sqm storage on each level above under exclusive use
- Secure basement carparking with 138 spaces over 4 levels
- 2 high speed passenger lifts (one per tower)
- MLR price expectation circa $1.5 million
- Optional 1 Bedroom Manager's Unit for $369K - with no requirement to live on-site
- All enquiries are to be via exclusive agents only
- EXPRESSIONS OF INTEREST CLOSE 5PM WEDNESDAY 7TH AUGUST 2019