Knight Frank are proud to present 356-362 Murray Road, Preston a highly strategic corner development site with favourable planning controls and exceptional connectivity in the heart of Melbourne’s vibrant inner north.
- Well positioned 2,873 sqm* Priority Development Zone– Schedule 2 (PDZ2) parcel, allowing for higher density development outcomes (STCA).
- Situated directly adjacent the Preston Market, which falls under the Preston Market Precinct Structure Plan and is expected to introduce between 4,500 – 6,000 new residents across 2,200 new dwellings, as well as approximately 1,000 new jobs.
- Prime opportunity for a developer to deliver a significant scale Apartment, Build to Rent, Office, Hotel or Mixed-Use project (STCA).
- Preston has been one of Melbourne’s major residential growth areas in recent times, with a 32% rise in apartment prices over last 24 months (source: REA).
- Well exposed corner site with expansive dual frontages to Murray Road and Spring Street totaling 91 m*.
- Site is currently leased to John Holland, providing holding income of $265,852 p.a.
- Walking distance to High Street, a bustling and eclectic retail strip full of vibrant cafes, bars, supermarkets, and other lifestyle amenity.
For more information, please contact the exclusive Knight Frank sales agents below.
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