Premium Permit Approved Boutique Hampton Development Site Comes to Market

A landmark landholding in Melbourne’s blue-chip suburb of Hampton is set to enter the market and receive peak interest from both high end developers and the buoyant Aged Care and Retirement Living market.

The 3,662sqm* site at 28–34 Service Street, Hampton is being offered for sale through Cushman & Wakefield. With a permit in place by renowned architects Fender Katsalidis and pricing expectations north of $16 million, it stands as one of the most significant premium metro development offerings in 2025 so far.

The property occupies a premium, north-facing block with over 70 metres* of street frontage – positioned just 350 metres* from Hampton’s retail village and 600 metres* from the beach. Zoned General Residential (GRZ2), the site is currently approved for a low-rise, multi-unit residential project of 32 apartments over three levels, with scope for further design and yield uplift subject to planning.

“Positioned in a leafy green street, with an elevated position overlooking Hampton Street and the Bay, the site’s locational fundamentals are exceptional,” said Hamish Burgess, Director at Cushman & Wakefield, who is selling the site with colleagues Daniel Wolman and Joe Kairouz.

“We anticipate strong interest from high-end developers looking to capitalise on this highly sought-after residential owner-occupier market, that commands strong revenues.”

Mr Burgess also flagged demand from alternative asset classes. “We anticipate interest from the active aged care and retirement living market, given the ageing demographic, proximity to health services, and affluent catchment area,” he added.

The campaign comes as the residential development market is poised to enter its next cycle, with recent planning amendments hastening development timelines, the reintroduction of stamp duty concessions spurring off the plan activity and a recent interest rate cut providing a strong platform for the market in 2025.

According to REIV data, Hampton boasts a median house price of $2.3 million and offers access to strong transport links, local retail, and high lifestyle amenity – all features that continue to underpin buyer demand and long-term value.

“The site also aligns with recent planning changes at the state level, including the Townhouse and Low-Rise Apartment Code and the Activity Centres Program” said Daniel Wolman of Cushman & Wakefield.

“These policy shifts are intended to unlock more infill development in well-located suburban areas like Hampton—adding to the strategic value of Service Street’s zoning and scale” he said.

The Expressions of Interest campaign, managed by Cushman & Wakefield closes on Wednesday 21 May at 2pm (AEST).