Once-in-a-generation 14ha super site set to hit the market in East Bentleigh

A precinct-defining 14ha site is set to re-shape the East Bentleigh landscape in the largest land sale seen in suburban Melbourne in recent years.

‘East Village’ is a substantial, flexibly zoned site at 236-262 East Boundary Road in East Bentleigh, at the heart of the place-making East Village precinct.

Following the rezoning of the land, the East Village site can now accommodate more than 2,200 townhouses and apartments, over 14,000sqm of retail, including two major supermarkets and over 40,000sqm of commercial accommodation. All of this is adjacent to the highly admired and newly operational McKinnon Secondary College East campus which was recently transferred to the State by the landowner.

Colliers’ John Marasco, Trent Hobart , Rachael Clohesy and Rob Joyes, in conjunction with Walter Occhiuto, Andrew Dawkins and Chris Jones of Dawkins Occhiuto, have been appointed to sell the property via International Expressions of Interest, closing Thursday 28^th April 2022 at 2pm, on behalf of Abacus Property Group and Gillon Group. Agents expect it to attract more than $250million.

Mr Marasco said East Village would represent the largest development site transaction seen in metropolitan Melbourne in years.

“We expect significant interest from offshore and Australian developers including major institutions, superannuation funds, build-to-rent groups and private developers,” he said. “There is a substantial weight of capital in the market looking for developments of this size and calibre.”

Mr Occhiuto said: “East Village is a significant masterplanned site that will completely change the landscape of East Bentleigh. The opportunity of place-making East Village into a sustainable vibrant, active, mixed-use retail/residential/commercial developement that can add to the vital social infrastructure within the health, education, sport and aged care space that Bentleigh is renowned for, is exciting. There is significant demand for this kind of amenity and lifestyle, and we expect developers will jump at the chance to lead the way.”

Mr Marasco said: “The aim of the East Village plan is to provide for many of the needs of the new community within 20-minutes of where people live — including parks, schools, shopping and dining, jobs, and access to public transport. This site will be central to the creation of a vibrant new hub that provides everything East Bentleigh residents need to live and work in harmony.”

Mr Occhiuto said East Village had the potential to become the heart and soul of Melbourne’s south-east for decades to come.

“East Village offers a high-profile location, surrounded by exceptional medical, education, and sporting amenity, including the new McKinnon Secondary School which now accommodates up to 1100 students,” he said. “The new McKinnon Secondary School Campus will transform the local residential market in East Village, with the new school zone anticipated to have a significant impact on residential prices within the precinct.”

East Village is currently known as Virginia Park and comprises a business park with various office, warehouse, retail and childcare buildings, which would provide strong short-medium term income for a potential purchaser prior to redevelopment.

The project is supported by Urbis as planning consultant and NH Architecture advising on the master plan for the site.