Land Rich Investment Opportunity Along Ringwood’s Retail ‘Golden Mile’

A fully-leased 6.5acre property situated in the heart of Ringwood’s ‘Golden Mile’ has hit the market and is expected to attract significant investor interest.

Located at 481–493 Maroondah Highway, the property is Ringwood’s largest land offering with a robust net annual income of $2.1 million and a prestigious lineup of tenants including global motor vehicle giant Volkswagen, Eastern Health, Serco, Crocs Playcentre, and Eclipse Gymnastics.

CBRE’s David Aiello, David Minty, Andrew Bell, Lee Holdsworth and Nathan Mufale are managing the Expressions of Interest sale campaign on behalf of the private ownership group.

“This is a landmark offering in a thriving business district, providing an excellent opportunity for investors, land bankers and developers looking to secure a prodigious landholding in Melbourne’s eastern suburbs,” Mr Aiello said.

The property is strategically positioned 2km from the Eastland Shopping Centre and on the border of Ringwood’s Metropolitan Activity Centre, making it a prime location for both investment and future development.

Mr Minty noted the property has an impressive daily traffic exposure of 49,000 vehicles, giving the site unmatched visibility and access. It is also surrounded by blue-chip motor vehicle tenants such as Mercedes Benz, BMW, Ford, and Nissan.

 “Car dealerships continue to attract strong interest from highly astute buyers who fully appreciate the attractive fundamentals of big land, big income and big future upside. Here we have five quality long standing tenants in arguably one of the tightest held and strongest performing retail boulevards in Melbourne,” Mr Minty added. The Expressions of Interest Campaign closes Thursday, 13th March at 2pm (AEDT).