Major permit approved mixed use development site for sale in Deepdene

Considered one of the most significant infill development opportunities of 2024, a site in one of Melbourne’s most exclusive pockets is being offered via expressions of interest with the campaign being led by Benson Zhou, Julian Heatherich, James Latos and Michael Lang of Savills Australia and New Zealand.

The site, located at 18-30 Whitehorse Road in Deepdene, was occupied by Ellis Outdoor Living and the Town & County Garden Centre & Café which was a favourite for Boroondara locals. With a land area of 4,756sqm, the Commercial 1 zoned site benefits from plans and permits for a precinct-defining mixed-use project comprising residential, retail, gym and wellness centre. The site also abuts Anniversary Park Trail, allowing future residents with an enviable view and lifestyle.

Formerly a leafy enclave of Balwyn, Deepdene became a suburb in 2010 and ranks as one of the City’s top 3 most expensive suburbs with a median house price of $3,300,000. The suburb is tightly held and houses in the area are highly sought after by buyers seeking luxury living.

Benson Zhou, Director Asia Services Desk (State Head of Asia Markets) at Savills Australia and New Zealand notes, “We are proud to offer such an exclusive opportunity on behalf of our valued clients. Deepdene has a strong Chinese community with 15% of residents born in China, as such we’re expecting strong interest from off-shore buyers for both the site and finished dwellings.”

Julian Heatherich, Director at Savills Australia and New Zealand added, “The opportunity is well poised to take advantage of Melbourne’s housing shortage with very few competing projects in the nearby vicinity.”

Commenting on the market reception, James Latos, Associate Director at Savills Australia and New Zealand stated, “The escalation in construction costs has driven demand towards high-end projects in established, amenity-rich locations, reflecting the focus of most active buyer mandates.”

Expressions of Interest for the property close on Wednesday, August 21, 2024, at 2pm (AEST).