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.
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Content sourced from: commercialrealestate