Six properties strategically acquired over 20 years create one substantial development site
A permitted residential development opportunity is up for grabs in popular Camberwell after the current owners acquired six neighbouring properties over several years to create one substantial site.
Colliers International’s Trent Hobart, Hamish Burgess and Ted Dwyer have been appointed to sell a 4,282sqm site at 1-11 Quinten Road in Camberwell.
“This magnificent collection of six adjoining houses encompasses the entire residential road known as Quinton Road,” Mr Hobart said. “1-11 Quinton Road is the best development site in Melbourne’s inner eastern suburbs, on so many levels.
“The affluent suburb of Camberwell is a sought after proposition for residential developers and occupiers alike. The opportunity to purchase a permitted site in such a prime residential location, surrounded by rich parkland, makes this site unique.
“Camberwell is considered by many to be one of the strongest blue-chip locations in Melbourne, offering a mixture of history, shopping, parklands and transport. The site has an approved permit for a four-storey building, comprising of 80 Dwellings, 101 car spaces and a net saleable area of 5357sqm.
“Given the unique location of the site bordering Back Creek, which offers lush surroundings, and its immediacy to the City, this development opportunity is unrivalled in the eastern suburbs."
The collection of six residential properties totalling 4,283sqm extends the entire length of the Quinten Road cul-de-sac, with three street frontages adding up to 257sqm.
Mr Burgess said the site had been strategically created over a lengthy period by the current owners.
“Over more than 20 years the current owners gradually acquired six adjacent residential lots to create one 4,282sqm site,” he said.
“This location offers a true residential streetscape and benefits from close proximity to tram services along Riversdale Road; a multitude of parks and public open space including the Back Creek Trail,; and local retail amenity along Through Road to the rear.
“Being located in Melbourne’s bustling inner east, the property is surrounded by an abundance of retail amenity, fresh food markets, education facilities, public transport, sporting facilities and Wattle Park."
Popular schools within the area included Canterbury Primary School, Camberwell High School, Sienna College and others.
“Camberwell is approximately 10km from the heart of Melbourne’s CBD and has enjoyed an unprecedented period of residential price growth over the past 24 months,” Mr Burgess said.
Colliers International expects strong interest from both local and offshore developers for this unprecedented Melbourne metropolitan development opportunity.
The property is for sale by Expression of Interest closing at 2pm on Wednesday September 16.