Plans & Permit Approved: For Sale Land to build Rooming House in Preston

A rare and highly sought-after opportunity awaits savvy investors and developers! Secure this permit-ready and fully cleared site in the thriving inner-northern hub of Preston, just 9km from Melbourne’s bustling CBD. This prime single-fronted, three-level development offers the perfect blend of robust retail exposure and strong, reliable residential income.

Ready to Build Now – Don’t Miss This Turnkey Opportunity!

With all demolition complete and permits secured, construction can commence immediately, accelerating your return on investment. This is a true “shovel-ready” project, eliminating the lengthy and complex planning stages often associated with new developments.

Key Features & Investment Highlights:

• Prime High Street Exposure: The ground floor is designed for high-exposure retail, promising excellent commercial returns from a prominent main road location.
• 12 Modern Studio Apartments: The upper two levels feature a total of twelve thoughtfully designed studio apartments (six per floor). Each studio will include:
  • Open plan bedroom
  • Built-in kitchenette
  • Built-in wardrobes
  • Private bathroom
• Strong Rental Income Potential: Studio rooms are conservatively estimated to achieve $405 per week each, generating an impressive annual residential income of approximately $252,720 p.a. with a Total Annual Income: Factoring in the ground floor retail, the development is poised to deliver an estimated $292,000 per annum in total income, equating to approximately $5,615 per week.
• Low-Risk, High-Return Investment: Positioned in one of Melbourne’s most stable and sought-after growth corridors, this development offers a compelling low-risk, high-return proposition for astute investors.
• Strategic Location: Enjoy direct access to High Street’s vibrant retail and dining precinct, excellent public transport links (trains, trams, and buses), and proximity to major amenities, ensuring high tenant demand for both retail and residential spaces.
• Building Area: A total building area of 355.78 m² ensures efficient use of space and maximises potential yield.

Preston: A Suburb on the Rise:

Preston continues to be a magnet for renters and businesses alike, driven by its ongoing gentrification, strategic location, and significant infrastructure investment. The demand for well-located, affordable, and modern accommodation remains robust, making this rooming house concept particularly appealing in the current market.

Don’t miss out on this exceptional opportunity to acquire a fully approved and site-ready development in a premium Preston location. Act now to secure your next successful build or investment.

Contact us today for detailed drawings, permits, and financial projections.