Dream development site hits the market

September 30, 2011 | Retail | Residential | Commercial

Developers have the chance to capitalise on the booming Southbank residential precinct with the launch of a premier site on City Road.

The 912sq m site at 57 – 61 City Road has development approval for retail space and 246 apartments over 37 levels, including podium level parking for 111 cars and dual street access.

Colliers International associate Shane Dargue, who is handling the sale along with director Pat Burke, said the site presented a rare opportunity in an ever-desirable and trendy area.

“It is a landmark sale, given the site has been under the same ownership for the last 24 years,” Mr Dargue said.

The site was within a few footsteps of the Yarra River, Eureka Tower, Crown Casino, The Arts Centre, Southgate and CBD precinct and all the entertainment, restaurants, parklands, shopping and cultural attractions the area has to offer.

It offered views along Southgate Avenue, over the Yarra River and through to the CBD, and could be accessed not only from City Road but also from Fawkner Street.

“This is the perfect opportunity to build a developer’s and end-users’ dream development,” he said.

Mr Dargue said an exceptional retail and apartment tower had been designed for the site by highly regarded Artisan Architect Group.

There was also the prospect of some short-term income from an existing adaptable office onsite.

With Melbourne recently awarded the title of ‘World’s Most Livable City’ by the EIUG Liveability Survey, Mr Dargue said now was a great time to invest in one of Melbourne’s prime locations.

The property is being offered for sale via Expressions of Interest by 4pm, Thursday, November 3, 2011.

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