Finding large plots of land for development 11km’s from the CBD is tough, but finding over 5,000sqm is almost unheard of, until now.
In what is expected to be a Mont Albert first, six house blocks have been joined together to sell as one massive land holding.
Properties adjoining address from 34-42 Francesca Street & 61 Relowe Crescent have been combined to create a super-sized 5,456 sqm (approx) development opportunity.
Listing Agents, Julian White, Scott Orchard and Chao Zhang of CBRE Victorian Development Sites have unveiled this unique campaign and is set to attract interest from various investment and development groups given the flexible of the site which may allow for a mixed-use opportunity including townhouse, apartment, aged care or retirement living – subject to council approval.
" In recent years Month Albert North has proven to be an ever increasing, high demand market for property purchasers and indications are that this trend will continue. Given the sheer size and flexibility of the site, we are expecting significant interest from local and off-shore development and aged care groups, said Julian White of CBRE.
Mr Chao Zhang of CBRE added “The eastern suburbs have for a long time now been a popular location for Asian, predominantly Chinese investment. The Mont Albert/Balwyn precinct is the most popular, due to outstanding educational institutions and easy access to retail amenity. This has driven the median house price significantly, which sees heightened interest for medium and high density development”.
Boasting excellent retail and dining amenities with Belmore Road Village and Coles on a 300m* work, plus Westfield Doncaster a short 6-minute drive away*, additionally only a short trip of 11km to the Melbourne CBD.
Neighbours teaming up to sell is becoming more popular in Melbourne, with large blocks of land highly sought by developer. Owners have become savvy vendors and have often returned more than the individual owners could have hoped for if selling there block individually.
34, 36, 38, 40, 42 Francesca Street and 61 Relowe Crescent, Month Albert North is for Sale by Expressions of Interest Closing Thursday 1st December at 5.00pm
For further information, please contact:
Julian White – 0422 746 137
Scott Orchard – 0425 760 712
Chao Zhang – 0411 625 068
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