Melbourne, 2 March, 2014 – The last remaining major sites in the Ringwood Eastern Gateway have been listed for sale, unlocking a rare development opportunity in one of Melbourne’s fastest growing regions.
CBRE’s Justin Clarkson and David Aiello have been appointed by vendor McDonald’s to sell the three properties located at 43-55 Maroondah Highway, 4-6 Sherbrook Avenue and 52 New Street. The sites comprise 3,985sqm, 3,789sqm and 1,985sqm respectively.
Mr Clarkson said the properties would play a vital part in the continuing development of Melbourne’s eastern suburbs.
“Situated adjacent to the heart of Ringwood’s vibrant business district, these properties present one of the most significant development opportunities in the city’s outer east,” Mr Clarkson said.
“The properties’ flexible offering of size and development outcomes, combined with their central position in Ringwood’s Activity Centre, is expected to attract the interest of discerning developers and occupiers alike.”
The sites are located in close proximity to Eastland Shopping Centre, Maroondah Highway retail precinct and a recently opened Costco store, as well as one of McDonald’s most successful outlets.
Mr Clarkson said access to transport links would also be a key selling factor.
He commented: “Ringwood Railway Station is situated approximately 500m to the east, and the property is adjacent to the Eastlink on-ramp with direct access to the CBD.”
The properties are being offered for sale separately or in one line. Expressions of Interest close April 6.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website atwww.cbre.com.au.