A truly rare, flexible development opportunity, in one of Melbourne's most highly sought-after retail and residential locations has been recently listed for sale.
941-951 High Street, Armadale, is an 809sqm* strategic landholding offering significant development upside and sub-divisional potential (STCA). Multiple design and project end-uses are possible with flexible Commercial 1 zoning and 20m of frontage to High Street; retail, office and apartment configurations could all equally be explored.
The teams at Melbourne Acquisitions and Allard Shelton have been jointly appointed to bring the property to the market, which is set to go to Auction on Friday 5 April at 12:30pm on site
Melbourne Acquisitions’ Dominic Gibson said that “the property boasts a proven retail location, which has drawn the interest of astute investors and developers.”
“The site benefits from both High Street and Glenferrie Road shopping strips, regarded as one of Melbourne's most high profile and tightly held precincts.”
Yet as well as the tremendous retail/commercial prospects for this unique offering, it’s also perfectly positioned for a high-end residential development.
“This is a blue-chip residential location.” Allard Shelton’s Michael Ryan attested.
“The affluent position is a proven location for luxury apartment projects, and is supported by a high median house price of around $3 million and some of the highest apartment sale rates throughout Melbourne.
“The site is also only seconds away from Armadale Train Station, is surrounded by some of Melbourne’s best schools and has multiple arterial roads leading in and out of Melbourne in proximity.”
Summary:
- 809sqm* land
- Extensive 20m frontage to High Street
- Flexible Commercial 1 Zone
- Short term holding income
- Blue chip residential location
- Situated near Armadale Train Station and surrounded by Melbourne's finest retail and lifestyle amenity
*Please note that all financials, measurements and distances quoted are approximate only.
941-951 High Street, Armadale, is for sale via Auction on Friday 5 April at 12:30pm on site.
For further information, please contact the Allard Shelton or Melbourne Acquisitions teams;
Melbourne Acquisitions
Dominic Gibson: 0409 366 941
James Latos: 0437 537 957
Allard Shelton
Michael Ryan: 0433 180 199
James Gregson: 0421 516 480
Joseph Walton: 0417 309 347
