10 - 12 Russell Street

An excellent investment opportunity presents itself here for developers and business people with this group of 3 allotments situated in the heart of Gracemere at Russell St.

These allotments are in a business area zoned District Centre and this zoning allows a diversity of business development and residential uses. Some of the types of use that this allotment could be developed for would include:

• A variety of specialty shops, cafes, offices, medical centres
• Also, residential development such as low-rise multiple dwellings, rooming accommodation
• Warehouses, food and drink outlets, community centre
• Function facility, childcare, Community care facilities, a variety of service industry applications
• Other uses would involve a planning application to the local council for a material change of use and this would be impact assessable – eg: for a single detached residential houses on the vacant blocks.

The 3 allotments are:
• Lot 1 - corner of Barry and Russell Sts. Area is 799m2
• Lot 3 – Adjoining Lot 1 and facing Russell St is 809m2
• Lot 4 – this block has a 2 bedroom house and 9 x6 m2 steel shed on it. Currently renting for $370/wk.


Being close to recreational reserves, food stores, take-aways, service stations, medical centre & a State Primary School further adds to the value of this land package.



Please contact Wayne or David today for further details or visit our office in the main street of Gracemere.

Disclaimer: While every effort has been made to ensure the accuracy of these property particulars, no warranty or guarantee is given by the agent or the vendor as to their accuracy. Any interested parties should not rely on these particulars or details as representations of fact but must instead satisfy themselves by inspections, searches or otherwise.