Sylvania 17-19 Formosa Street

High Points

• ‐ Two separate lots totalling approximately 1538.9sqm of level land
• ‐ Sprawling 1538.9 sqm (approx) zoned R2 with 0.55:1 FSR (as per SSC guidelines)
• ‐ Street Frontage: Formosa Street 34.37m & Melrose Avenue 44.81m
• ‐ No 17 has a 3 bedroom double brick house (1962) & single garage plus self contained 2 bedroom flat
• ‐ No 19 has 2 a bedroom double brick house (1954) with 4 car garage and workshop plus self contained 1 bedroom flat and landscaped bowling green
• ‐ Both properties are leased on a month to month basis generating $70,000 pa
• ‐ Highly profitable prospect to redevelop into luxury townhouses, duplexes, seniors living or health consulting rooms (STCA)
• ‐ Boasting immensely desirable corner position with desirable aspect for year-round sunshine
• ‐ Extremely rare opportunity unparalleled in position, location and possibility
• ‐ Tightly held and now being offered to the market for the first time since 1954
• ‐ Footsteps to Southgate Shopping Centre and local bus transport
• ‐ Stroll to Sylvania Public School, river front reserve, local eateries