Zoned Commercial 1
Situated on a generous corner allotment of 854m2, this rare opportunity comes with approved plans and permits for a 4 storey mixed-use development comprising of:
- 2 x large commercial/restaurant tenancies;
Each townhome features 3 generously sized bedrooms (all with robes) and 2 bathrooms and onsite secured parking. The open-plan living and dining area along with the full-width terrace creates a space perfect for the entertainer or growing families. The 3 bedrooms spaced across 2 levels provides a great sense of privacy, with the top-floor master bedroom also providing beautiful skyline views.
In addition, 2 commercial/restaurant premises located on the ground floor benefit from unrivalled exposure to vehicle and foot traffic along High Street. Both premises are incredibly spacious with an internal floor area of 186m2 and 221m2 and onsite parking and provide flexibility for various uses including as a restaurant, cafe, office, supermarket and many other options.
The site is conveniently located within a few minutes walk from the newly-upgraded Reservoir Station, Edward Street and Broadway shops (including Coles and IGA) and only moments away from other key amenities including Ruthven Station, Preston Market and Northland Shopping Centre. Prime investment opportunities such as these are rare and not to be missed!
A range of documents including architectural plans, approved permits and several other consultant reports are available upon request.
For further information or to request for the relevant documents, please contact Abraham Kalamouni 0400 506 219 or Joe Ledda 0418 176 858 of Hocking Stuart Preston.
The size of Reservoir is approximately 18.9 square kilometres. There are 45 parks, covering nearly 8.8% of the total area. The population of Reservoir in 2016 was 50474 people. By 2021 the population was 51096 showing a population growth of 1.2% in the area during that time. The predominant age group in Reservoir is 30-39 years. Households in Reservoir are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Reservoir work in a professional occupation.In 2021, 59.90% of the homes in Reservoir were owner-occupied compared with 59.30% in 2016.
Reservoir has 29,147 properties. Over the last 5 years, Houses in Reservoir have seen a -0.25% decrease in median value, while Units have seen a 10.34% increase. As at 31 July 2026:
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