Plus an incredible rooftop terrace with views of the city.Behind a vine-covered facade, the 556sq m property features multiple workspaces, in addition to an indoor garden and a rooftop terrace boasting sweeping views across the CBD.
Jones Real Estate Melbourne manager Sam Guest said he was fielding interest from developers seeking value, as well as young professionals. “It’s a cracker site, especially where it’s positioned on Chapel St, but in that pocket where you don’t have to go through Cremorne to get in or out, plus it has those beautiful views,” Mr Guest said.And room for up to eight cars.The site has an estimated rental income of $300,000 a year and has commercial zoning allowing for a multi-level development in the future.
“It has the precedence to go up to eight levels, so developers are having a good look,” Mr Guest added. He said Mr Ramsden had “a lot on his plate” with his chairman position and felt it was time to move on from the commercial property.Sign up to the Herald Sun Weekly Real Estate Update. Click