1144-1154 Mount Alexander Road & 19 Winifred Street, Essendon has been brought to market by Stonebridge Property Group. This a phenomenal opportunity occupying one of Essendon’s largest Commercial 1 Zoned landholdings and is anchored by a strong-performing freestanding Coles supermarket just 8.5 km* north of the Melbourne CBD.
The site sits adjacent to woodland parklands and has unparalleled connectivity with a tram stop just 90m* away, paired with train and bus services nearby. The existing improvements comprise a high-performing Coles supermarket, a 7-Eleven service station, a Chiropedic Bedding store and a vacant office building. The site falls within the North Essendon Activity Centre, as part of Victoria’s Housing Statement, in which The Government plans to facilitate growth in Activity Centres like North Essendon by clearing application backlogs, making faster decisions, and delivering more community facilities, public spaces and parks.
Essendon is a burgeoning inner Melbourne suburb that has grown to foster a highly affluent demographic and is renowned for its bustling café strips and parks. The suburb has a median house price of $1.76 million (1.94x the Melbourne Metro average) and has family incomes close to 40% above the Victorian average. This demographic supports strong retail spending and demand for residential housing in the area, which can be leveraged with the property.
Julian White commented, “The Site provides the best of both worlds, a significant Commercial 1 zoned landholding plus a highly secure income stream stemming from the existing Coles supermarket and other tenancies. The site’s scale and zoning create unmatched scope for future development, especially with Essendon currently undergoing substantial growth.”
Justin Dowers commented, “Essendon has truly grown to be a highly attractive suburb with significant amenity in its restaurants, shopping, parks and transport linkages. The site provides a rare and secure income stream to protect incoming purchasers from holding costs whilst they finalise future development on the site. There is also a scarcity of major retail in the precinct, and this site provides one of the last opportunities in the area to have a major supermarket.”
1144-1154 Mount Alexander Road & 19 Winifred Street, Essendon is being sold via an expression of interest campaign, closing May 15 2024.
