2 – 16 ABEL STREET, HILLBROW
The 2-16 Abel Street property consists of three buildings and two portions of potential development land. The three buildings consists of a total of 257 units that require minor remedial works at minimal construction costs in order to reach practical completion. The two portions of development land totalling 2130 square meters provides a great opportunity for the development of additional units and/or provision of other uses. The property is a stone’s throw away from the Chelsea project and in close proximity to the Claim Street property purchased last year.
Estimated Unit Yield = 257 units in current condition. Additional units to occur if development land is used for residential development.