174 Morrison Road, Midvale WA 6056

A rare opportunity has presented itself to the open market which will see the next lucky owner receiving a superb return on their investment. Both neighbouring lots 174 & 176 are up for grabs, individually or conjoined. The new residential zoning, R40, brings an outstanding development opportunity.

This older style fibro property currently has a fixed term tenancy agreement in place, paying $360 per week. Which will yield approximately a 4.6% return until January 2018.

Midvale is expanding rapidly and undoubtedly increasing in popularity. The new zoning will see lots of new residential and commercial development taking place which will hopefully see an appreciation of property prices.

If you were thinking of purchasing a development site today and receiving a capitol return whilst you wait for planning approval, this is certainly a great proposal, and could be the ideal site for you.

If you take full advantage of these sites together you will be able to build seven units (STCA).

These level and rectangular blocks are approximately 847sqm each totalling 1,692sqm together. Also featuring a combined frontage of 36.8 linear meters. Giving equal independent frontages of 18.4 meters.

With future sale value in mind the location is prime. Being close to Schools, a number of Parks, Public Transport, An Aquatic & Recreational Centre. Along with Midland Gate just 2km's away and a proposed local shopping hub featuring a well-known large retail chain.

Positioned excellently near some main arterial routs which should make any commute a breeze. This could prove to be a very profitable development indeed.

Property Features Include:
•Three bedrooms
•One bathroom
•Open plan living areas
•Kitchen
•Split system air-conditioning
•Approximately 847sqm each
•Residential Zoning R40
•Gated carport

If you require any further information please call Luke today on 0402 352 298.

*Information Disclaimer: This document has been prepared for advertising and marketing purposes only. It is believed to be reliable and accurate, but clients must make their own independent enquiries and must rely on their own personal judgment about the information included in this document. De Freitas & Ryan provides this document without any express or implied warranty as to its accuracy or currency. Any reliance placed upon this document is at the client's own risk. De Freitas & Ryan accepts no responsibility for the results of any actions taken, or reliance placed upon this document by a client.