NEW DEVELOPMENTS, DEALS
Property Showcase: Approved Neighbourhood Shopping Centre; Mortgagee Sale in Australia’s largest growth rate suburb
Posted by Development Ready on Aug 21, 2019

One of Victoria’s most promising shopping centre development opportunities has just been listed for sale by the team at Real Properties in Melbourne.

Holding a prominent address at 1261 Ballarto Road in Cranbourne East, this 1.28 Ha property holds an approved permit for the construction of neighbourhood shopping centre. Price guidelines are positioned between $5.8 and $6.3 million via a mortgagee sale campaign.

Real Properties’ Jet Saliu believes that Melbourne’s south-east should be on every serious developer’s radar.

This ideally positioned property is located within the Cranbourne East PSP, surrounded by established and future residential developments, a future employment precinct and only moments from the South Gippsland Highway.” Mr Saliu said.

“Ballarto Road is receiving considerable upgrades which will benefit the accessibility of this approved project. A new roundabout is soon to be constructed at its intersection with the South Gippsland Highway, as well as the stage 2 upgrade to the road between the highway and Casey Fields Boulevard.”

Co-selling agent Joseph Catanese reiterated Mr Saliu’s points, stating that improvements to the accessibility will have a big impact on this ideally positioned corner property.

“The approved permit allows for a 4,688sqm neighbourhood shopping centre set to support the multiple surrounding residential developments. Cranbourne East itself, is Australia’s largest growth rate suburb with the residential population is forecast to grow by 69% by 2041, reaching 46,062.” Mr Catanese said.

“Don’t wait on the side-lines and watch this region boom – get in and amongst it now!”
 

Summary:

  • Significant 1.28ha* Urban Growth Zone (UGZ)
  • Designated as the Town Centre of the Cranbourne East PSP
  • Approved permit for a 4,688sqm (GLA) neighbourhood shopping centre (permit allows for up to 5,000sqm of retail and commercial space)
  • Cranbourne East is Australia’s largest growth rate suburb with a resident population forecast to grow by 69% by 2041 to 46,062
  • Significant local infrastructure investment including stage 2 of Ballarto Road upgrades in 2019/20 between South Gippsland Highway and Casey Fields Boulevard and a new roundabout at the South Gippsland Highway and Ballarto Road intersection
  • Dual street frontage onto Ballarto Road (98m*) and Adrian Street (125m*) - Immediate proximity to Cranbourne East’s future employment hub and several rapidly growing land estates

*Please note that all financials, measurements and distances quoted are approximate only.

1261 Ballarto Road in Cranbourne East, is offered For Sale by offer. Presented to the public via a mortgagee sale, price indications lie between $5.8 and $6.3 million.

For more information on this opportunity, and to receive a copy of the approved planning permit, please contact the Real Properties team and mention Development Ready.

Real Properties:
Jet Saliu: +61 432 898 689
Joseph Catanese: +61 418 367 514
Ben Ameti: +61 434 551 577
 

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