Colliers International to sell four properties in one line with rare development potential
Residential developers are being offered an unparalleled opportunity to secure a prime land holding in a premium location with the sale of four houses in on line on popular McKinnon Road.
Colliers International’s Peter Bremner, Hamish Burgess and Andrew Ryan are selling 170-176 McKinnon Road in McKinnon by Expressions of Interest closing Thursday May 21 at 2pm.
“This established area continues to grow in popularity, as evidenced by a strong upward trend in median house prices for the area and continued successful residential development nearby,” Mr Burgess said.
“The location is unrivalled, with a zone 1 train station within 120m allowing for a short journey to the Melbourne CBD and McKinnon Village, which contains a number of highly regarded restaurants and cafes, literally on the doorstep.
“The sites are also within the highly coveted McKinnon secondary school zone, which is a major drawcard to the area for both families and investors."
He said the owners were hoping to capitalise on a recent change to residential zoning in the area which would allow a purchaser to consolidate the properties and achieve strong premiums as a result of their development upside.
The four properties, which occupy a total 1,458.71sqm site area and a 40m frontage to McKinnon Road, area expected to attract interest in the vicinity of $4 million.