Blue-Chip Malvern Corner Site Tests Depth of Developer Demand

MELBOURNE - A significant corner development site in the heart of Malvern is set to test Melbourne’s resurgent appetite for blue-chip land, with a private investor bringing the high-profile High Street holding to market with price expectations of circa $16 million. 

The 3,012 sqm* amalgamation at 1367–1383 High Street and 189–191 Tooronga Road occupies a commanding gateway position within one of the city’s most affluent and tightly held residential precincts. 

Boasting 118 metres* of dual street frontage and potential for a seven-level^ mixed-use outcome (STPA), the site sits at the epicentre of a development corridor that has quietly re-established itself as Melbourne’s premium apartment market and is for sale through Hamish Burgess, Daniel Wolman, Oliver Hay and Leon Ma of Cushman & Wakefield. 

Recent nearby completions including Malvern Gardens by Roulston have demonstrated the depth of demand for well-designed, boutique product in Stonnington, while Cushman & Wakefield’s own sales of 1216–1230 High Street and 1097–1111 High Street in Armadale in late 2025 underscore what agents describe as “unprecedented” developer competition along the strip. 

Hamish Burgess of Cushman & Wakefield said from a residential development perspective, the fundamentals underpinning Malvern remain compelling. 
“The Stonnington apartment market continues to outperform, particularly for boutique, design-led projects targeting downsizers and established local buyers,” Mr Burgess said. 

“The success of nearby developments such as Malvern Gardens highlights the depth of demand for premium product in this pocket, where owner-occupiers are prepared to pay for quality, amenity and proximity to High Street’s lifestyle offering. 

“Sites of this magnitude in Malvern are incredibly scarce. Well-capitalised residential developers are actively looking to secure blue-chip land ahead of the next price growth cycle, particularly in suburbs with proven sales evidence and a wealthy downsizer catchment.” 
Mr Burgess went on to say that as construction costs stabilise and sentiment continues to improve across the Victorian development market, the campaign would provide a clear barometer of investor confidence in Melbourne’s premium infill precincts. 
“If recent High Street transactions are any guide, competition for tightly held, irreplaceable corner sites in Stonnington remains as deep as ever.” 
Daniel Wolman of Cushman & Wakefield said the site’s commanding corner presence and zoning flexibility create a rare commercial and mixed-use opportunity within one of Melbourne’s most tightly held strips. 
“This is a true gateway site within Melbourne’s premier development precinct,” Mr Wolman said. 

“The scale, 118 metres of frontage and exposure to both High Street and Tooronga Road provide enormous optionality for commercial owner-occupiers, retailers or mixed-use developers seeking a landmark presence. 

“High-profile corners of this nature are exceptionally difficult to secure in Stonnington. The affluent catchment, visibility and connectivity make it equally suited to supermarket groups, medical operators or showroom users looking to anchor themselves in a blue-chip location.” 
1367-1383 High Street & 189-191 Tooronga Road, Malvern is for sale by International Expressions of Interest closing Thursday 30 April at 2pm (AEST).