Colliers sells 1.46‑hectare infill site to private investor after strong demand from developers and value‑add buyers.
A prime infill development site at 258 Scoresby Road, Boronia has been successfully sold following a highly competitive campaign managed by Colliers’ Jozef Dickinson, Philip Heberling and Mark Burgio, underscoring the continued depth of demand for well‑located development opportunities in Melbourne’s eastern suburbs.
The 1.466‑hectare property, offered as a Mortgagee in Possession sale, was acquired by a private investor for circa $15 million, reflecting a land rate around/circa of $1,000 per square metre. The purchaser was attracted to the site’s short‑term value‑add potential alongside its longer‑term development optionality, positioning the asset as both an income opportunity and a strategic landbank.
Comprising approximately 14,660 square metres, the property includes a functional 3,300 square metre building with an existing on‑site fitness centre and benefits from more than 304 metres of park frontage. The site is well positioned for future residential redevelopment (STCA) and is surrounded by established amenity, including schools, parklands, Westfield Knox and major healthcare facilities.
The Expressions of Interest campaign generated more than 130 enquiries, attracted eight written offers at the close of the first round and resulted in an unconditional contract exchange within two weeks, highlighting the intensity of competition for quality infill sites.
Jozef Dickinson, National Director | Residential at Colliers, said, “This transaction demonstrates just how competitive the market remains for infill sites that combine scale, location and future optionality.
“Despite broader economic and geopolitical uncertainty, buyers moved decisively. Melbourne continues to be viewed as a global safe‑haven market, attracting high‑net‑worth buyers and institutional capital seeking security, resilience and long‑term growth. Well‑positioned development opportunities like this continue to generate deep interest from capital looking for both immediate flexibility and long‑term upside.”
The transaction was completed on an unconditional basis with a 60‑day settlement, further reinforcing buyer confidence in prime metropolitan land, while leaving close to $100 million in unplaced capital.
Philip Heberling, Senior Executive | Residential at Colliers, commented, “Sites that are established, well serviced and capable of supporting future redevelopment are increasingly difficult to secure.
“Population growth, infrastructure investment and sustained demand for medium‑density housing will continue to underpin values in Melbourne’s eastern suburbs, particularly where land can support adaptable development outcomes over time.”
Mr Heberling added, “When assets come to market that tick the boxes on location, scale and future potential, well‑capitalised buyers need to move quickly. Given ongoing supply constraints, that dynamic is likely to persist.”
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