significant 1.25-hectare opportunity in melbourne’s high demand eastern suburbs

significant 1.25-hectare opportunity in melbourne’s high demand eastern suburbs


March 2019
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Significant 1.25-Hectare Opportunity In Melbourne’s High Demand Eastern Suburbs

Bursting with potential!
The latest Wantirna development opportunity, to be brought to the market from the team at Colliers International, presents scope and potential that creative property developers love to work with.

This sizeable, 1.25-hectare landholding in Melbourne’s burgeoning east, offers dual street frontages totalling 222m and is set to become an iconic centrepiece of the Wantirna district. Residential, aged-care, education; the limit of what is possible is subject only to the new owner’s imagination – and council’s approval too, of course.

56 Kingloch Parade is available for purchase via public tender, closing 2pm Wednesday 1 May 2019. 

“We’re really excited about just how significant this development opportunity is.” Colliers International’s Hamish Burgess commented.

“Favourable zoning and planning overlays invite a multitude of development outcomes and we think we’re going to see an iconic project take form in its place.”

The applicable Development Plan Overlay (DPO15) encourages an opportunity to increase housing density (STCA). Sitting under the City of Knox planning scheme also provides a broad scope of residential, commercial and mixed-use outcomes. Classed as a high demand market, Wantirna currently has a median house price of $906,500.

Jun Lai, of Colliers International, added that, “this large landholding benefits significantly from its prominent address, in the middle of Stud Road, Boronia Road and the Mountain Highway. Here there is easy access to the CBD via Eastlink, the Monash Freeway and public transportation.
 
 “The site also enjoys proximity to other significant sites such as Westfield Knox, Eastland Shopping Centre, Wantirna Mall, Wantirna Health, Knox Private Hospital and Swinburne University of Technology. These assets, and more, provide a healthy backdrop to whichever project style the new owners decide to pursue.”

 

Summary:

  • 1.25-hectare* land area
  • Dual street frontages totalling 222m
  • General Residential Zoning (GRZ1) within the City of Knox planning scheme
  • Development Plan Overlay (DPO15) encouraging the opportunity for increased density housing
  • Multitude of development outcomes including residential, education and aged care (STCA)
  • High demand residential market

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

56 Kingloch Parade, Wantirna, is to be sold via public tender, closing 2pm Wednesday 1 May 2019.
 
 For further information, please contact Colliers International

Hamish Burgess: +61 421 641 497
Joe Kairouz: +61 421 430 638
Jun Lai 赖锦伟: +61 456 535 000