​Chinese developer buying hilltop site for more than $20m

A Wheelers Hill development site has been snapped up for more than $20 million by Chinese developer as unprecedented demand for large infill townhouse sites continue to soar. 

The 1.7-hectare site which is located on the corner of Ferntree Gully and Jells roads boats a flexible general residential zoning and is expected to be converted in to a medium density village containing hundreds of new apartments and townhouses.

Known as 855-869 Ferntree Gully Road, the property has almost 230 metres of road frontage. It’s also about 300 metres from the Wheelers Hill Shopping Centre and half a kilometre from a Caulfield Grammar School campus.

The deal was brokered by Julian White, Josh Rutman and Chao Zhang CBRE’s Victorian Development site team.  

Find out more about this site: https://www.developmentready.com.au/properties/855-869-... 

Content sourced from: commercialrealestate