This article is from the Australian Property Journal archive
CSIRO is selling off its former laboratory site of 9.34 hectares in Highett, representing one of Melbourne’s largest infill development sites put to the market.
Offered with vacant possession and cleared of all building improvements, the land will be rezoned upon settlement to Residential Growth Zone and Development Plan Overlay – Schedule 2, and four hectares of the site will be transferred to Bayside Council for public open space and conservation.
Colliers agents Trent Hobart, Peter Bremner and Hamish Burgess, along with transaction manager Urbis are marketing 37 Graham Road in the south-eastern suburbs on behalf of CSIRO.
“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,” 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.” Hobart added.
Local, national and international developers are expected to show interest.
The site is positioned between Nepean Highway and Port Phillip Bay, immediately south of a recently completed full-line Woolworths shopping centre, 100 metres from Highett train station and within the Highett Road retail strip. Highett neighbours bayside locations including Brighton, Hampton and Sandringham.
The property is for sale via tender closing 19th June.
Australian Property Journal
