Watch Watch
High Street Preston Super Site, 496, 506 & 508-516 High Street and 30 Youngman Street, Preston, VIC, 3072
Virtual Tour

Property Highlights

Significant High Street Preston Island Opportunity
  • Significant 5,600 sqm* Landholding
  • 270 m* of Street and Laneway Frontage
  • Location Identified in Housing Statement

Stonebridge Property Group and Ryder Commercial are pleased to present for sale, High Street Preston Super Site.

The 5,600 sqm* Priority Development Zone landholding offers a significant development opportunity and benefits from 270 m* of triple street and laneway frontage. This includes 82 m* to the major arterial, High Street, which was recently identified as a priority activity zone in Victoria’s Housing Statement.

The property is positioned in immediate proximity to ample amenities, including Preston Market (450 m*), Woolworths Preston (260 m*), and Preston Train Station (550 m*).

The key highlights of the opportunity include:

  • Remarkable 5,600 sqm* corner landholding with massive triple street and laneway frontage totalling 270 m*, including 82 m* to the major arterial, High Street
  • High Street, Preston is specifically referenced within Victoria’s Housing Statement indicating the government’s preference to increase density in the precinct^
  • Discretionary development controls in forthcoming Build Form Framework (2024) and Priority Development Zone allows for flexible end uses including residential, commercial, affordable housing, and student accommodation (STPA)
  • Nearby major retail amenities include Woolworths Preston (260 m*), Chemist Warehouse (325 m*) and High Street retail strip (350 m*), and in close proximity to lifestyle amenities including Preston Market (450 m*) and Preston City Oval (645 m*)
  • The recently rebuilt Preston Train Station (550 m*), Regent Train Station (675 m*) and Route 552 & 553 High Street bus services on the doorstep of the property provide direct Melbourne CBD access (8.75 km*). Additionally, the St Georges bike path (300 m*) is a popular means of transportation for cyclists and pedestrians to and from inner-north Melbourne suburbs
  • Surrounded by successful development projects with major developers acquiring parcels in the precinct
  • Multiple freeholds totalling 3,295 sqm* of lettable area, generating income of $392,397* + GST per annum with short term leases and landlord favoured early termination options
  • Preston median house price is $1,180,000, 25.8% higher than Metro Melbourne and has grown at a 7.52% compounded annual growth rate over the past 4 years^^

High Street Preston Super Site is offered for sale via Public Expressions of Interest closing Thursday 7th December 2023 at 2.00pm (AEDT). To obtain further information or to arrange an inspection, please contact the exclusive selling agents.

Stonebridge Property Group:

Julian White
0422 764 137

Chao Zhang 张超
0411 625 068

Andrew Milligan
0421 559 992

Ryder Commercial:

Mark Ryder
0412 348 547

^Source: Victoria’s Housing Statement – The decade ahead | 2024-2034
^^Source: REIV

Read More

Higher Leverage. Less Equity. Unlock More Opportunities.

Get advice from the development finance experts at Ready Capital.

Book a call today.

STEP 01 Finance type
Land Finance
STEP 02 Property address
High Street Preston Super Site, 496, 506 & 508-516 High Street and 30 Youngman Street, Preston, VIC, 3072
STEP 03 Contact a finance professional

Map: High Street Preston Super Site, 496, 506 & 508-516 High Street and 30 Youngman Street, Preston, VIC, 3072