As has been the trend in the Melbourne market for some months now, many local developers are seemingly transitioning their pipeline strategies away from high-density, single-use CBD sites to somewhat larger, suburban fringe offerings incorporating residential townhouse and aged care facilities.
Within the past fortnight, a number of these projects have been listed across Development Ready, with the level of buyer feedback and a marked increased in the quantity of listings of similarly configured properties testament to a discernible change within the metropolitan marketplace.
In Sunbury, Colliers International have just listed a near ten thousand (10,000) square metre site with endorsed council approval for either thirty-two (32) townhouses or alternatively, a one-hundred-and-ten (110) bed aged care facility.
Situated only forty (40) kilometres from Melbourne City, the 6-16 Anderson Street site sits within immediate proximity to the Metro rail link and is on the doorstop of the Macedon Ranges - Sunbury is widely acknowledged as one of the premier growth precincts in Victoria and continues to see a strong level of effective demand for the townhouse style product.
Similarly, in the suburb of Sunshine, Knight Frank have listed over six thousand (6,000) square metres of land with likely uses including either an aged care scheme or residential townhouse scheme, subject to approval.
Two significant street frontages, with ninety-eight (98) metres on Wilkinson Road and ninety-two (92) metres on McCracken Street combing to offer enormous upside within close proximity to a suite of local amenities, including Sunshine Plaza, Sunshine Marketplace and the Sunshine Train Station.
In Keysborough, Biggin & Scott Land have listed a two-point-one (2.1) hectare residential development site with potential as either a major townhouse development or a fifty (50) plus lot subdivision opportunity depending on developers preference.
Surrounded by the successful ‘Somerfield’ housing estate, Perry Road is positioned adjacent to stunning, landscaped reserved, waterway and parks, and within immediate access to local retail precincts and both public and private educational institutions.
local developers are seemingly transitioning their pipeline strategies away from high-density, single-use CBD sites to somewhat larger, suburban fringe offerings