This article is from the Australian Property Journal archive
A 7,207sqm residential development site in Alphington is up for grabs, offering potential developers a new premium location for an aged care facility, retirement village or townhouse project.
Located at 9-11,13 and 15 Old Heidelberg and Heidelberg Road in Alphington, approximately seven kilometres east of the Melbourne CBD, the zoned Neighbourhood Residential site boasts 61 metres of frontage to Old Heidelberg Road and 109 metres to Heidelberg Road.
Rory White and Matt Hoath, director and selling agent at Gray Johnson have been appointed to manage the sale of the property.
“Main road sites of this magnitude with a land mark inner suburban regional access road position, and within such a comfortable radius of the City are just no longer available,” said Hoath.
The site, which adjoins both the Sparks Reserve and the Darebin Creek Trail, is currently occupied by a closed aged care facility, owned and operated by Chronos Aged Care.
The now vacant aged care facility spans 6,040sqm of the 9-11 Old Heidelberg Road segment of the property, while 13 and 15 Old Heidelberg Road are occupied by two vacant homes on their respective 592sqm and 575sqm.
Offering easy access to Ivanhoe’s retail and lifestyle centre, the site is also within short distance of the Glenvill Yarra Bend multi-level residential development.
The property also sits across from Alphington Grammar, within close proximity of the principal Dan Murphy store and head office, and is serviced by public transport including the Alphington Train Station.
“I anticipate this offer will be attractive to major development groups and builders and although offers will be acceptable individually I am expecting that as a whole of 7,207 sqm that there will be likely offers in excess of $9 million,” added Hoath.
The previous owners and brothers, Chris & Gerry Apostolatos, declared bankruptcy with the receiver unable to account for the $16 million in RAD resident deposits held at the property.
