5 Franks Grove
Kew

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.