A former apple orchard in Melbourne’s eastern suburbs has hit the market for the first time in almost 100 years, with offers expected to exceed the $90 million mark.
Major players Mirvac, Lendlease and Stockland are expected to show interested in the 14.96 hectare site rezoned for residential and commercial use which allows for medium-to-high density housing of up to five levels and a neighbourhood shopping centre.
The fruit orchard, located at 1201-1211 High Street Road in Wantirna South roughly 35 kilometres from Melbourne’s CBD, has been listed by Savills Australia.
The land was originally purchased in 1922 by Arthur Scourfield Jenkins, a region once dominated by orchards, and has remained in the family ever since.
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“Whilst other nearby farming families have long since sold their landholdings for residential subdivision with the continuous encroachment of suburbia, the Jenkins family continued to operate a thriving orchard business,” Savills Australia Clinton Baxter said.
Savills Australia Nick Peden describes the site as “the most significant Melbourne metropolitan landholding to be offered to the market in recent years.”
Recent nearby residential projects includes Wantirna Rise, a 113-lot estate, and Mirvac’s $450 million 906-lot Harcrest development.
Peden says Melbourne’s eastern corridor continues to be regarded as the city’s most desirable area to live.
“Spanning from East Melbourne to Toorak, through to Wantirna South and beyond.”
Along with strong interest from major local players, Peden expects the property will garner international buyer interest.
