Home land on market, ready for subdivision

Home land on market, ready for subdivision

A 54-HECTARE property in Cranbourne West, ready for immediate subdivision into 540 residential allotments subject to Casey Council approval, is on the market. Sutherland Farrelly is the vendor of the property at 630 Hall Road. Expressions of interest close on July 18 at 3pm. The land is located within the Cranbourne West precinct plan, is zoned Urban Growth, and is located between three residential subdivisions. The vendors are prepared to sell the property on extended vendor terms over a three-year period with partial releases being available to the buyers. They are also prepared to continue farming on the land with the savings available to the buyer.

Nearby, a major Dandenong Road site that is a gateway to Oakleigh is on the market. Expressions of interest will close on July 12 at 4pm with agents Crabtrees Real Estate to buy the site – 1611-1615 Dandenong Road and the adjacent 3-5 Lever Street. The property, formerly occupied by the New Oak Ford group, is the last property before the Ferntree Gully Road intersection. More than $3 million is expected for both properties, with a combined site area of 2985 square metres.

Also in the south-east, Savills Australia is marketing a prime corner development site at Carrum Downs. Expressions of interest close on July 12, with the property expected to fetch more than $1.5 million. Located at the intersection of Frankston-Dandenong Road and Hall Road, the 7539-square-metre site is suitable as a service station, convenience store, car wash, fast food, medical, residential, or a combination of these uses.

Owner-occupiers and astute investors will want an industrial property at Heidelberg West. Colliers International is marketing a 5094-square-metre property on a 6483-square-metre site at 56 Dougharty Road. The property is in one of Melbourne’s most tightly held industrial areas. Expressions of interest close on July 12 at 4pm.

Sutherland Farrelly is selling fully leased retail premises with a first floor, two-bedroom dwelling at 95 Brighton Road, Elwood, on July 20 at 1pm. The property is zoned Business 1, and has a passing income of $39,640 a year. The property has been a postal agency for more than 20 years. Interest is expected at about $750,000.

Freehold properties at 2 & 4 Dudley Street, West Melbourne, are up for auction on Thursday from 12 noon on site. The properties are available individually or together. No. 2 Dudley Street comprises a two-level building of 110 square metres, now being used as a private residence. Next door, 4 Dudley Street is a three-level building of 220 square metres, most recently used as an office. Both will be sold with vacant possession. The properties are opposite Queen Victoria Market and Flagstaff Gardens.

A two-level office, showroom and warehouse at the corner of Bell and Lahinch Streets in Preston is for lease by Gray Johnson. Soon to be vacated by an electrical products distributor, the building is opposite a Harvey Norman retail store. Zoned Industrial 3 and available for lease from September 1, the 600-square-metre building has offices on the first level and showroom and warehouse space at street level. A new lease is available for five years with a five-year option.

The newest addition to the Burwood Road shopping precinct – 241 Burwood Road, a new, two-storey showroom/office building of 922 square metres – is available for lease. Leasing at $252 a square metre, the recently completed showroom/office is available through GormanKelly’s Mario Nobrega and David Minton.

Colliers is the agent for a large distribution site in Melbourne’s western industrial precinct. Nick Saunders and Nathan Bingham have been appointed to sell 5-7 Alick Road in Tottenham. The 2096-square-metre building with canopy, plus a 1625-square-metre adjoining block of land at the rear, is expected to fetch more than $2 million.

Also in the west, Savills is marketing for lease a 14,917-square-metre warehousing and distribution facility at Derrimut. Located at 25 Briggs Drive within the Gilbertsons Industrial Estate, near the intersection of Boundary and Fitzgeralds roads, the property has access to Melbourne’s major arterial road network. The building complex comprises a main office of 750 square metres, a warehouse office of 167 square metres, and a 14,000-square-metre warehouse.

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