Gross Waddell ICR is pleased to present a rare statewide portfolio of 9 properties on behalf of the Victorian State Government, offering a diverse range of development, repositioning and land-banking opportunities across metropolitan Melbourne and key growth corridors.
Danny Clark, Nick Meadows C Glenn Ye have been appointed as exclusive agents to sell the portfolio, which are being offered for sale via Public Tenders.
The portfolio spans highly sought-after locations including Croydon, Vermont South, Clayton South, Laverton, Yarraville, Sunshine West, Moonee Ponds, Lara, and Mount Duneed. With the exception of Lara and Mount Duneed, all assets are positioned within metropolitan Melbourne, providing purchasers with access to well-established suburbs underpinned by strong population growth, infrastructure, and amenity.
“Comprising a mixture of former fire stations and vacant land parcels, the offering presents a broad range of repositioning, redevelopment, and land-banking opportunities. The scale and flexibility of the sites are expected to appeal to a wide cross-section of the market, including apartment and townhouse developers, childcare operators, service station and fast-food groups, as well as commercial and residential owner-occupiers seeking to repurpose existing improvements”, adds Danny Clark.
Nick Meadows comments “Price expectations across the portfolio range from approximately $500,000 through to $10,000,000, ensuring accessibility for both private occupiers and larger development groups. This breadth of pricing, combined with the geographic spread and varied asset profiles, is anticipated to generate strong competition”.
Glenn Ye continues “2 of the show piece properties includes 88 Boundary Road, Sunshine West and 23-29 Dean Street, Moonee Ponds. Sunshine West is a substantial corner landholding of 5,080 sqm* zoned IN2Z, providing flexible use and development outcomes, whereas Moonee Ponds is highly strategic development opportunity in the heart of Moonee Ponds, residing on a 2,478 sqm* landholding within the Moonee Valley Activity Centre Zone.
The portfolio represents a unique release of government-owned real estate including former fire stations, with each property offering underlying land value supported by prominent positioning and, in many cases, strong frontage and accessibility.
Opportunities of this nature, where multiple assets are released simultaneously with flexible future use potential, are rarely presented to the open market.
Gross Waddell ICR expects the portfolio to attract significant enquiry from owner- occupiers as well as local, interstate, and offshore developers. Each property is strategically located and offers multiple exit strategies, an investment characteristic that is highly sought after yet rarely found in today’s marketplace.
Related Articles
