MELBOURNE, 9 August, 2021 – Mirvac has secured a large scale development site fronting Princes Park in Melbourne’s City Fringe.
Colliers’ Development Site Sales Trent Hobart, Jozef Dickinson and Hamish Burgess negotiataed the off-market transaction on behalf of an interstate developer.
The 6,496m² site benefits from an extensive frontage to Park Street and Brunswick Road providing unobstructed views of Melbourne’s CBD skyline across Princes Park.
Director Residential at Colliers, Trent Hobart said “the property received strong interest from both premium residential developers who wanted to develop the site for luxury apartments to cater for owner occupiers and build-to-rent goups. Mirvac, an institutional premium residential developer was the succesful Purchaser at the end of the sale process. “
The site is situated on the high-profile corner of Brunswick Road, Park Street and Royal Parade Road. Positioned only 3.5 kilometres from Melbourne’s CBD, within close proximity to a wide range of retail amenities and with direct access to a variety of public transport and road networks the prominent site has unrivaleld amenity.
The inner north continues to be a highly sought-after area due to its proximity to the University Precinct, the CBD and its continued levels of gentrification.
“In 2021 Colliers have negotiated in excess of $100 million worth of sales to both traditional and BTR developers throughout Melbourne’s inner northern precinct and expect this demand to remain robust.” Mr Burgess added.
