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Two adjacent Ashburton properties with plans and permits for a new apartment development are on the market.
Hamish Burgess, Ben Baines and Ted Dwyer of Colliers International have been appointed to sell a combined 1,450sqm at 322-324 High Street in Ashburton.
“These two adjacent properties have plans and a permit for 19 luxurious apartments over three levels,” Mr Burgess said.
“Ashburton is one of Melbourne’s most affluent suburbs, with a strong median house price well above $1.2 million and significant demand for apartments in the area.
“Given the high quality permit which is in place, we expect strong interest from both local and offshore developers seeking a boutique-sized project in a high quality area.”
The properties are located moments from Ashburton Village, Ashburton train station, Chadstone Shopping Centre and Riversdale Golf Club.
Having sold a number of similar sites in Melbourne’s eastern and south eastern suburbs in recent months, without permits, agents expect this permitted site to be hotly contested.
Recent sales have included:
1520 High Street and 65 Erica Avenue, Glen Iris: Two neighbouring properties sold as a 830sqm residential development site to a local developer for $3.4 million.
831-835 High Street, Kew East: Two neighbouring properties, totalling 2,377sqm, sold to a Chinese developer for an undisclosed amount.
170-176 McKinnon Road, McKinnon: Four side-by-side properties sold on behalf of four neighbouring owners to local developer Citiplan Property for $4.18 million.
