Major Metropolitan Melbourne Site Ripe for Investors and Owner-Occupiers

Strategically located 2.33ha site brought to market with significant value-add potential

A unique 2.33-hectare property, known as Heidelberg Double Hectare, is coming to market after being held by the same family for almost five decades. This prime site, currently occupied by a nursery and other uses, is situated in the heart of inner metropolitan Melbourne’s Heidelberg.

Alex Browne, Associate Director at Colliers Melbourne Metro Sales Investment Services, said, “This is a rare opportunity to acquire one of Melbourne’s most iconic outdoor retail facilities, offering a significant chance to value-add to drive income growth or owner-occupy. The property’s high-exposure location provides a variety of potential future uses (STCA) to maximise its potential fully.”

The asset has been held by the same family for 47 years, providing a rare chance to secure a significant landholding in a high-growth area. Tim McIntosh, Director of Retail Middle Markets Victoria at Colliers, added, “Heidelberg has been identified by the Victorian Government as a key activity centre within Melbourne’s strategic urban development plan. The ongoing growth and development within the precinct will continue to drive strong retail demand and capital growth.”

Heidelberg, just 11 km from Melbourne’s CBD, is renowned for its parklands, including Warringal Park and the Yarra River. Nestled in a suburb that offers a blend of lifestyle and convenience with amenities, the property is just 500 meters from the Heidelberg retail and commercial precinct, including Warringal Shopping Centre and Heidelberg Train Station.

The property features an impressive 225 meters of street frontage, attracting daily traffic of 67,000 vehicles. Its proximity to the Eastern Freeway, currently undergoing a major upgrade, further enhances its strategic value. The ongoing development and the North East Link Project further boost Heidelberg’s appeal as a sought-after inner-city location.

Heidelberg Double Hectare, at 4 Banksia Street, Heidelberg, is being offered for sale through an Expressions of Interest Campaign, closing at 12 pm (AEDT) on Wednesday, 27th November 2024.