North Melbourne's Best Development Opportunity
218 - 246 Macaulay Road
North Melbourne, Victoria 3051
Australia
- Rental Price:
- Negotiable
- Lot Size:
- 7,811 SQM
- Sublease:
- No
now Cushman & Wakefield is proud to present 218-246 Macaulay Road & 23 Boundary Road, North Melbourne an extremely rare opportunity to secure a large-scale landholding located at the prominent axis of Boundary and Macaulay roads in highly sought after North Melbourne.
• Large 7,811 sqm site with expansive dual frontages to Macaulay & Boundary roads
• 2km’s from the Melbourne CBD
• Flexible Commercial 1 Zone with a Design Development Overlay allowing 12 levels providing the ability to create a truly iconic development of significant scale
• Suitable uses include residential apartments or Build to Rent, Co-Living, Student Accommodation, Retirement, Office, Hotel, Retail and or medical (STCA)
• Preliminary concepts prepared comprise of 443 apartments (NSA 28,347 sqm*) Retail (NLA 1,895 sqm*), 270* carparks and a total GFA of 39,239 sqm*
• Blank canvass for a developer to create a striking Large scale Mixed-Use Project
• Exceptional panoramic unrestricted views to the Melbourne CBD
• Current improvements include 4 office warehouses and signage providing a gross passing income of $549,885
• Walking distance to some of the best and most vibrant cafes, bars, food and beverages offerings
• Outstanding connectivity with two train stations, Tullamarine Freeway, Moonee Ponds Creek and Trail
• Close proximity to Royal Park, Princes Park, and North Melbourne Recreation Centre
• Strong demand for BTR products and apartments due to limited supply and population growth to resume as borders begin to reopen
• 11.5% increase in the last 12 months to median house price of North Melbourne continuing to price potential purchasers out of the established housing market in this area
To arrange a private inspection please contact Cushman & Wakefield, the exclusive selling agents:
Lukas Byrns +61 423 791 126 or Marcus Neill +61 452 405 782
*Approx. - Melbourne City Suburbs