In a recent transaction that underscores renewed confidence in suburban development opportunities, Golden Peak Developments has sold a 1,100sqm* site in Coburg VIC to a Private Developer for $9.75 million.
Located at 45 Pentridge Boulevard, spanning a substantial suburban site permitted for the development of 200+ apartments, as well as retail space, the total residential NSA is 14,700 sqm*, with an average apartment size of 73 sqm*.
Located 8 km* north of Melbourne’s CBD and within the Pentridge Village Precinct of the Coburg Major Activity Centre (MAC), the site occupies a prominent corner position at the gateway entrance to Pentridge Village, at the intersection of Pentridge Boulevard and Urquhart Street.
Joe Kairouz, who negotiated the deal alongside Hamish Burgess and Leon Ma of Cushman & Wakefield said “The sale of 45 Pentridge Boulevard highlights the regenerating demand for suburban development sites that are primed for apartment projects, particularly in areas like Coburg, which offers a strong mix of lifestyle and accessibility.
“This transaction indicates a broader trend of investor confidence returning to the suburban apartment sector. As demand for quality housing in well-serviced areas grows, strategic development sites like 45 Pentridge Boulevard are becoming increasingly sought after”.
Hamish Burgess said “Coburg's vibrant community, excellent transport links, and proximity to essential amenities make it an ideal location for modern, well-connected apartment living.
“This latest transaction is expected to deliver a transformative residential project, further enhancing Coburg's dynamic urban fabric” he said.