InfinityPlus Real Estate is delighted to present this rare DA approved mixed-use commercial development site of 2,883 sqm in parcel area situated in the older established northern Hobart locality of Glenorchy, Tasmania. The location is some 9km driving distance from the Hobart CBD, whilst the Glenorchy town centre, commercial and shopping precincts are circa .
Surrounding 37 Pitcairn St is a mix of established industrial, commercial and residential improvements ranging from older through to new builds. The area generally presents as a neat better than average locality in wider Hobart. Public transport is nearby and Hobart international airport is about 24km.
The parcel of lands comprises of 2,883 sqm of level land, contained two titles, and benefitted by the growing demand of warehouse and showroom/retail in Glenorchy and Moonah. Glenorchy is very near to Hobart CBD and within short drive from Northshore suburbs, providing fantastic opportunity to capitalise on the growing industrial demand within greater Hobart especially in rapidly growing suburbs like Claremont, Austins ferry, Lenah Valley, etc.
The location is favourably zoned ‘Light Industrial’ on the Tasmanian Planning Scheme. The zoning provides the opportunity for a range of development options including retails, office, warehouse, a strata unit development, factory, or self-storage facilities.
The council approved development plan is ready to go for purchaser, and the plan includes 1 local shop, 2 consulting office, 8 warehouses,4 mezzanines and offices associated to the warehouses, 25 car parking. The qualified valuer has estimated the gross rent income of over $540,000 annually for investor’s purchase as a freehold property after development. For developers, the valuer estimated the sales price for total development properties after completion will be over $6.7 Million in total.
With land prices increasing considerably over the last 4 years in Glenorchy, Moonah and Cambridge, this investment or potential bank enables purchasers to find development value in an up-and-coming industrial pocket of greater Hobart.
*Development approval plan by Glenorchy City Council
*Great return on investment both in freehold property for rent or development for sale
*Rare opportunity in the mix-use of light-industrial zoning in the centre of Glenorchy
*****Book the private inspection or have a further discussion on the development plans and returns on this investment:
Ashley Shen 0451189066