This rare opportunity offers a flat 572 sq m (more or less) site with wide street frontage in the heart of Parnell, just a few doors from the popular Gladstone Road shops. Featuring a solid 1960s concrete apartment building, the property is held under single ownership across three cross-lease titles.
Built over three levels, it comprises three separate, self-contained apartments with a total floor area of approximately 258 sq m. Each level offers generous proportions, with the top-floor apartment enjoying expansive city and harbour views, an ideal platform for a premium penthouse redesign. Currently returning a gross income of approximately $98,800 per annum, this is a strong hold while you plan. With all three titles under single ownership, there's clear potential to convert to freehold, refurbish the existing apartments to increase returns, explore future redevelopment under the proposed Plan Change 78, or create a luxury single residence. One address, many options.

A tightly held pocket, a substantial landholding, and a multitude of possibilities. Opportunities like this are seldom available.