Heidelberg West, Victoria

Expressions Of Interest

Property Description

Brand New Off the Plan Management Rights Opportunity in Melbourne's City-Fringe | Resort Brokers ID : OTP005856

Exclusive to Resort Brokers is the off the plan management & letting rights to Cultivate, a twin tower project comprising 146 mixed-use apartments and retail space situated in the growth hot spot of Heidelberg West.

Cultivate is a considered response to therapid evolution of Heidelberg West, only12km north east of the Melbourne CBD, on the cuspof the affluent northern suburbs and close to major health, education and manufacturing hubs.

  • Mix of short-term, permanent rental and owner occupiers

  • Projected net profit of $596,968 by specialist accountants Holmans

  • Site cleared with anticipatedcompletion of Q1 2021

  • Strong investor confidence, with sales to date indicating a65 - 70% investor profile.

  • Featuring two towers of8 and 10 levels with 146 elegant apartments

  • Rooftop BBQ and courtyard areawhich captures stunning city views andan expansive central garden

  • In immediate vicinity to Austin Hospital, Mercy Hospital, Repatriation Hospital, Olivia Newton John Cancer Centre, La Trobe University, Ivanhoe Grammar School, Northland Shopping Centre and major light manufacturing centres.

  • Major infrastructure investment in education, health and retail sectors driving job growth in the area.

  • Underpinned bylong-term caretaking and letting agreements

  • Ground floor freehold operational areas include 32sqm Manager's office& 15sqm storage($235K)

  • Additional 5sqm storage on each level above under exclusive use

  • Secure basement carparking with 138 spaces over 4 levels

  • 2 high speed passenger lifts (one per tower)

  • MLR price expectation circa $1.5 million

  • Optional 1 Bedroom Manager's Unit for $369K - with no requirement to live on-site

  • All enquiries are to be via exclusive agents only


Date updated: 05 Dec 2019 23:00:07

Property Summary

Business Snapshot

Price: Expressions Of Interest Net Profit: $596,968 Remuneration / Body Corp Salary: $140,000

Managers Unit

Value of Managers Apartment: $604,000Bedrooms: 1Bathrooms: 1

Complex Information

Complex Type: Resort / HolidayTotal Units in Complex: 146Agreement Term Remaining: 25 years

Marketing Agent

Marketing Agency


Alex Cook


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Heidelberg West, Victoria 3081 Exact map location not provided

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