Melbourne, 22 April 2015 – A residential development site in Melbourne’s north will go under the hammer next month, unlocking a premium opportunity to secure a major corner site in one of the city’s most sought after fringe locations.
Located at 942-948 Sydney Road, the Coburg North property comprises a 2,148sqm site zoned Residential 1, featuring showrooms, warehousing, workshop facilities and an ample hardstand area.
The site, which also benefits from an existing holding income, provides immediate access to the City Link.
CBRE’s Guy Naselli and Dean Hunt have been appointed to market the property, which is due to be sold by Public Auction on May 14.
Mr Naselli said the property represented an outstanding development opportunity at a time when the residential market was going from strength to strength.
“The opportunity to acquire a blue chip facility prominently positioned on a high profile corner location in one of Melbourne’s most popular locales will no doubt attract a lot of investor interest,” Mr Naselli said.
“Sydney Road is the gateway to the residential suburbs of Brunswick in the south and Fawkner in the north, and with limited supply in the vicinity, this property is strategically positioned to capitalise on the strengthening demand for residential property in the area.”
The property benefits from close proximity to the Western Ring Road, Bell Street, Sydney Road shopping strip and access to the CBD.
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