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For Lease | Development Withdrawn

North Melbourne's Best Development Opportunity

218 - 246 Macaulay Road
North Melbourne, Victoria 3051
Inquire About This Property
Rental Price:
Lot Size:
7,811 SQM
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
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