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Rare Boutique Apartment Complex Renovation Opportunity
Offered for the first time in over 40 years, "Somerset" is quietly positioned at the top end of an exclusive cul-de-sac in the heart of the Kew prestige school precinct, which is home to a fortunate few residents. Rarely does a property spanning 1,430sqm approx. with exceptional investment potential and a preferred northern rear aspect become available in such an excellent location. This heritage protected Art Deco boutique apartment complex, originally built in 1930s, offers an opportunity to undertake front-to-back renovations of the five spacious apartments featuring the proportions and period attributes typical of their era; or reconfigure the building to provide luxurious contemporary interiors for two-storey residences. Alternatively the apartments could be converted into one luxurious family residence and/or sub-divide at the rear of the property (STCA).
The complex currently features a magnificent façade with dual turret staircases accessing the first floor apartments and comprises a one bedroom and four two bedroom apartments. Set in expansive garden surrounds with an in-ground pool, double garage and external studio. Four of the apartments have almost identical floor-plans featuring living, dining, bedrooms, study, bathroom, kitchen and laundry. Apartment five has a living room, kitchen, bedroom and bathroom.
The capital appreciation and investment potential of this property is underpinned by a prized location, just moments from Kew Junction or the vibrant Glenferrie Road shops, restaurants, cafes, boutiques and new cinema plus the Hawthorn Recreation Centre and public transport options. With an array of Melbourne's most sought-after schools all within walking distance. When renovated this property will provide an ultra-convenient Kew lifestyle for the occupants with plenty of upside capital appreciation prospects.
Land size: 1,430sqm approx. Due Diligence Checklist
The complex currently features a magnificent façade with dual turret staircases accessing the first floor apartments and comprises a one bedroom and four two bedroom apartments. Set in expansive garden surrounds with an in-ground pool, double garage and external studio. Four of the apartments have almost identical floor-plans featuring living, dining, bedrooms, study, bathroom, kitchen and laundry. Apartment five has a living room, kitchen, bedroom and bathroom.
The capital appreciation and investment potential of this property is underpinned by a prized location, just moments from Kew Junction or the vibrant Glenferrie Road shops, restaurants, cafes, boutiques and new cinema plus the Hawthorn Recreation Centre and public transport options. With an array of Melbourne's most sought-after schools all within walking distance. When renovated this property will provide an ultra-convenient Kew lifestyle for the occupants with plenty of upside capital appreciation prospects.
Land size: 1,430sqm approx. Due Diligence Checklist
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Kew
Median residential price
$1,710,000
2 bedroom
$747,000
3 bedroom
$1,705,000
4 bedroom
$3,001,000
Similar suburb median prices
2 bedroom
$854,500
3 bedroom
$1,600,000
4 bedroom
$2,345,000
About Kew
Live Like a Local
Kew has long been considered the home of Melbourne’s elite, and with its history and heritage it’s easy to see why. This handsome suburb is just seven kilometres from the CBD, yet feels like another world. Filled with established trees and beautiful parks, Kew provides a range of activities normally reserved for country living – from a few rounds of golf to a romantic row down the river. It’s also perfect for families looking to provide the very best for their children, as home to some of the most exclusive schools in the state. Faraway from the graffiti-painted laneways of the city, you’ll find a uniquely serene atmosphere that Kew calls its very own.
Kew
Kew has long been considered the home of Melbourne’s elite.
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Schools & Landmarks