NEW DEVELOPMENTS, DEALS
Huge Mixed-Use Development Site in Melbourne’s Residential East For Sale
Posted by Development Ready on Aug 06, 2019

A remarkable opportunity to acquire a 2.814-hectare allotment, with huge mixed-use development potential, has recently been brought to market by the team at Allard Shelton. With fantastic positioning on the doorstep to the Yarra Valley, plus easy access into Melbourne’s CBD, this sprawling property offers astute developers scope to explore an array of creative outcomes.

4 Birchwood Drive, Mooroolbark, is for sale via Expressions of Interest – closing 2pm on Thursday 5 September 2019. Inspections are strictly by appointment only.

“There’s significant potential just waiting to be realised within the grounds of this almost 3-hectare property,” Allard Shelton’s Joseph Walton said.

“This wonderful opportunity allows for an array of development outcomes to be pursued. Providing the proper consents are achieved, developers may wish to involve townhouses, small retail/café, aged-care, childcare, and educational facility or a complementary mix of any of these.”

Currently the site is occupied by Yarralinda School with options for a short-term lease back upon sale. Developers and investors will enjoy the potential to access holding income, while plans for re-development or re-positioning are formulated.

School principal Mrs. Christel Duffy adds "This decision represents a great new opportunity for the school. When we reviewed our 29 year history, 25 of those years here at Birchwood Drive, we decided that it was an opportune time to move.  We can better facilitate our current student body and create our own purpose built site."

Further, she added “We are excited for our future.  Each step has been carefully planned out so there is no interruption to the student body and that school for the children will carry on as usual.” 

With close proximity to both Lilydale and Mooroolbark Train Stations, commutes into Melbourne’s CBD for work or pleasure are made easy. The site’s location to other lifestyle amenity offers considerable benefits too.

Mooroolbark is considered a high demand residential market and currently has a median house price of $665,000 (Core Logic).

“Situated at the gateway to the Yarra Valley, future residents will be able to take full advantage of all the splendours that this wine region has to offer,” Michael Ryan added.

“Closer to home, residents with enjoy having Chirnside Park Shopping Centre just a five to six-minute drive down the road. There’s more in store too as after receiving approval in 2018 for a multi-million-dollar expansion, the centre is set to receive 30 new stores, a second food court, open-air gardens, office space, medical centre, child care, playground, community space and a three-level carpark.”
 

Summary:

  • Substantial land allotment of 2.814 hectares* 
  • Neighbourhood Residential Zoning
  • Variety of potential outcomes including, townhouses, mixed use, aged care, childcare and educational facility
  • Possible short-term leaseback
  • Convenient location, near Lilydale and Croydon retail precincts, Chirnside Park Shopping Centre, Lilydale and Mooroolbark Train Stations and the Yarra Valley
  • 30 kms from Melbourne

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

4 Birchwood Drive, Mooroolbark, is for sale via Expressions of Interest – closing 2pm on Thursday 5 September 2019.

For more information on this opportunity and arrange an inspection, please contact the Allard Shelton team and mention Development Ready.

Allard Shelton:
Joseph Walton: +61 417 309 347
Michael Ryan: +61 433 180 199
James Gregson: +61 421 516 480

 

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