Photo 165-169 Keilor Road, Essendon aerial mark up
The demand for high exposure development sites in Melbourne’s suburban market is increasing with both developers and commercial occupiers looking to put their foot on sites in the current market.
Amid this activity, a high exposure site at 165-169 Keilor Road, Essendon, is set to hit the market, promising strong potential for developers and commercial occupiers looking to capaitalise on the high-profile location.
This premium site, being brought to market by Cushman & Wakefield’s Daniel Wolman, Hamish Burgess and Joe Kairouz, together with Savill’s James Latos, Julian Heatherich and Benson Zhou offers a remarkable opportunity to capitalise on one of Melbourne’s popular commercial corridors.
The 3,550 sqm* site benefits from two street frontages, totaling 143m to both Keilior Road and Roberts Street, and has the benefit of a hugely flexible Commercial 1 zoning. Furthermore, the site is Positioned within the ‘Niddrie (Keilor Road) Activity Centre Plan’ undergoing review under the Victorian Government Activity Centre’s Program, which is designed to encourage greater development in select precincts.
"We are noticing a dramatic increase in demand for sites in high profile locations where commercial brands can benefit from greater exposure for their businesses," said Daniel Wolman of Cushman & Wakefield. "Sites in commercial corridors such as Keilor Road, with proximity to other national brands, are being sought after."
Hamish Burgess of Cushman & Wakefield said that interest is also expected from residential, aged care and retirement living developers. "Given the strong demographics of the area we expect interest from developers across different typologies, looking to capitalize on the strong median house price and affluence of the location."
The project’s enviable position is set to attract buyers seeking significant exposure and is supported by the proximity to key retail amenity including Keilor Road Retail Strip, Niddrie Central, Mount Alexander Road Shopping Village, Coles Essendon and DFO Essendon.
James Latos of Savills added “The property’s prime corner position, flexible zoning, and exposure to 15,000 vehicles daily create a compelling proposition for those looking to establish a presence in one of Melbourne’s most prestigious suburbs. The site's versatility, supported by access to major retail and public transport, will undoubtedly attract interest from a broad range of sectors."
165-169 Keilor Road, Essendon is for sale through Cushman & Wakefield together with Savills by Expressions of Interest, closing Thursday 14th November 2024 at 12pm.
*Approximate
