356-362 Murray Road, PRESTON, VIC 3072
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Property Highlights

Highly Prominent 2,873 sqm* Gateway Site in Heart of Preston
  • Adjacent Preston Market & Station
  • Significant dual frontage of 91 m*
  • Current holding income of $265,852

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.

Remember to mention you found this property on DevelopmentReady.com.au

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