VICPROP Brunswick, in conjunction with Luke Piccolo of Woodards, presents Brompton at 677 Park Street, Brunswick – a whole block of 25 apartments on a 647sqm* landholding in one of Melbourne's most sought-after rental and growth corridors.
Whole blocks in this location almost never come to market. This one offers immediate income, scope to add value, and long-term potential on a substantial inner-north site directly opposite Princes Park.
Owning the whole block means one owner makes the decisions, with no other owners to negotiate with. You can set the plan for leasing, upgrades and the future of the site. Hold it for steady rental income, upgrade the apartments over time to lift rents and value, or keep the land for its future potential (STCA).
Tenant demand is driven by the University of Melbourne, Monash University's Parkville campus, RMIT's Brunswick campus, Trinity College and the Parkville medical precinct. That gives a large, steady pool of tenants: students, academics, hospital staff and young professionals who want to live close to work, study and the city.
Brunswick continues to change. New apartments and mixed-use buildings are going up around Sydney Road and the Brunswick activity centre, and large inner-north sites are becoming harder to secure. A 647sqm* allotment with a 16.0m* frontage and 40.4m* depth, facing parkland and minutes from the CBD, is a rare long-term holding.
Brompton is a solid brick walk-up with three residential levels above an undercover carparking level. A long concrete driveway along one side leads to parking beneath the building, and many apartments have their own private balcony. The freshly painted apartments are simple, practical and easy to maintain.