Colliers International expects influx of interest in unique blue chip site
Colliers International’s Trent Hobart, Peter Bremner, Hamish Burgess have been appointed on behalf of CSIRO along with transaction manager Urbis, to sell a unique 9.34ha site at 37 Graham Road in Highett.
“Known as Park Village, this extraordinary development opportunity represents one of Melbourne’s largest and most flexible infill development sites that will capitalise on the Bayside area’s continued growth by delivering pre-eminent park-side residences,” Mr Hobart said.
“It is a unique and truly unrepeatable offering in a blue chip market, the market has been waiting a long time for this site to become available. It has been a four-year wait for the market’s biggest and best buyers to be given the opportunity to purchase this site.
“This is the only 93,400sqm residential development site in a premium south eastern bayside location so we expect all major developers locally, nationally and internationally to have an interst in this sale.”
Home to former CSIRO laboratories, the site will be sold with vacant possession and clear of all building improvements.
“The site is prominently positioned between the Nepean Highway and Port Phillip Bay, nestled amongst some of Melbourne’s most exclusive suburbs such as Brighton, Hampton and Sandringham,” Mr Bremner said.
“Park Village at Highett is an increasingly rare large scale, predominantly townhouse opportunity, that is destined to become a world class urban village set in a prime park setting with the future residences surrounded by 4,000 sqm of parkland, situated next to a Highett Shopping including Woolworths and the Highett Train Station.”
The Park Village site is located immediately south of the recently completed full line Woolworths Shopping Centre, 100m from the Highett Train Station and positioned within the new generation café and retail strip of Highett Road.
As part of the sale process, the land will be re-zoned upon settlement to Residential Growth Zone and Development Plan Overlay - Schedule 2. Upon settlement, 4ha of the site area will be transferred to Bayside Council for public open space and conservation.
The property is for sale via an International Tender campaign, closing Wednesday 19 June 2019.