A rare and substantial plot of land in Melbourne’s highly sought after Camberwell, is being made available for sale for the first time in over 50 years. Comprised over three titles, 7-9 High Road in Camberwell is expected to draw interest upwards of $12.5 million as developers and land-bankers compete.
Colliers International’s Hamish Burgess, Bryson Cameron and Peter Bremner, in conjunction with Caroline Hamill, James Hearn and Maria Xu of Woodards, have been appointed to sell the site by public tender, closing Thursday 7th June at 2pm.
Vast Development Potential
With a frontage to High Road of more than 40m, the sprawling 4,433sqm, ‘L’ shaped site looks back towards the CBD skyline.
Residential possibilities are vast, with developers feeling secure in what is considered one of Melbourne’s leading residential suburbs. Camberwell maintains a strong median house price of over $2.2 million (Core Logic) and is commonly regarded as a consistent performer.
Its proximity to some of Melbourne’s elite private schools, and the Auburn High School and Camberwell South Primary School zones, ensure the address will appeal to both families and those seeking a luxury inner-eastern product.
In addition, the site also sits in close proximity to the Epworth Hospital’s Camberwell campus. As such, this is a prime opportunity for alternate uses such as retirement living, aged care or other associated medical uses (STCA).
A 50-year rarity
Hamish Burgess of Colliers International has commented that this will be the first time the property has changed hands in more than 50 years.
“This is a very rare opportunity for someone to acquire more than an acre of land in the sought-after Camberwell area,” he said. “The property currently has improvements comprising 18 residential units which provide a substantial and diversified income stream, however it could also be suited to a residential aged care or medical development.”
The many amenities
A wide range of cafes, shops and trams are just a short stroll around the corner at the Burke Road South Retail Village. Leo’s Supermarket and Tooronga Village are comfortably reached as well.
There is also easy access to Camberwell Junction, the Monash Freeway and the CBD (which is less than 8km away) allowing residents to come and go as they please.
High Rd Camberwell Summary
- Development potential for a variety of outcomes - including residential, aged care or medical development, refurbishing, repositioning or land banking (STCA).
- Large land holding of 4,433sqm with 18 generous sized apartments currently on-site.
- Huge street frontage to High Road of 40.1m.
- Strong performing suburb with a median house price of $2,300,000 and a proven apartment/townhouse market.
- Elevated position with CBD aspect.
- Excellent retail amenities nearby. Schools and hospital in close proximity too.
- Sale by public tender closing Thursday 7th June at 2.00pm.
Please note that all financials, measurements or distances quoted above are approximate only.
Click here for more details on the listing.
For further information please contact the Colliers International or Woodards teams, and mention Development Ready in your interactions.
Hamish Burgess +61 421 641 497
Bryson Cameron +61 434 608 316
Peter Bremner +61 412 326 942
Caroline Hammill +61 418 334 561
Jason Hearn +61 409 828 590
Maria Xu +61 411 491 089