In a move set to reshape the heart of Balaclava, The Parish of St Colman’s has listed a significant part of its expansive property at 291–301 Carlisle Street for sale, offering one of the most significant redevelopment opportunities in Melbourne’s inner south-east.
With a total site area of 5,300 sqm*, the property is expected to attract interest of around $14 million, reflecting its scale, location and potential.
For sale through Joe Kairouz and Hamish Burgess of Cushman & Wakefield, the offering comprises a rare and substantial landholding zoned General Residential (GRZ1), with existing buildings including a six-unit apartment building, residential house, large hall with amenities, school facilities, storage sheds and a sports oval.
The site’s three street frontages and proximity to the Carlisle Street Activity Centre make it ideal for a variety of development outcomes, from townhouses to multi-level apartments.
“This rare offering comprises one of the most substantial landholdings in central Balaclava,” said Joe Kairouz of Cushman & Wakefield.
“It benefits from favourable residential zoning, a generous site area, and existing improvements with potential for holding income, all within moments of Carlisle Street’s vibrant retail precinct and exceptional tram and train connectivity.”
The property’s strategic location adjacent to a Major Activity Centre, as identified in state planning policy, further enhances its appeal. With Balaclava Station on the Sandringham Line and multiple tram routes at its doorstep, the site offers outstanding connectivity to Melbourne’s CBD and surrounding suburbs.
Hamish Burgess of Cushman & Wakefield said this is a generational opportunity to acquire a landmark site in one of Melbourne’s most tightly held inner-city suburbs.
“The flexibility of the zoning, combined with the site’s scale and location, opens the door to a wide range of development possibilities that will contribute meaningfully to the area’s future.
“The St Colman's site is poised to attract developers, institutions, and visionary owner-occupiers eager to shape the next chapter of Balaclava’s urban story,” he continued.
Expressions of Interest for the site close on Thursday, 4 December at 2:00 PM AEDT.
