A 5,088sqm permit approved site for 36 townhouses is for sale in the heart of Coburg and within the Pentridge Prison redevelopment precinct.
Stonebridge Property Groups specialist development site sales division of Julian White and Chao Zhang have been appointed to market the property at 19 Urquhart Street, Coburg.
Designed by renowned architect CHT Architects, the 36 townhouses are predominantly three bedrooms, all with two cars and have an average internal area (excluding cars) of more than 160sqm. The property is also only a short walk to Coles and Woolworths supermarkets, plus an endless array for cafes, restaurants, and shops on Sydney Road. The Coburg Train Station providing direct access to the Melbourne CBD is also close by, as is the Sydney Road trams. Primary and secondary schools are also within easy walking distance.
“This section of Coburg can only be described as amenity rich, with access to all daily needs within a 5-minute walk of the site” said Stonebridge Property Group Partner, Julian White.
Given this, it is of no surprise that the development of the broader Pentridge development precinct is now really starting to gain momentum. By the end of 2021, the following projects will be completed:
- Shayher Groups, Adina Hotel, Pentridge Shopping Centre (featuring a Palace Cinema and IGA) and their 19 level ‘Air’ apartment tower.
- Golden Peaks highly successful townhouse project, which is now more than 80% sold.
- Completion of One Coburg Quarter, an eight-level apartment project 75%+ sold, close to the subject site.
With respect to the townhouse development site market, this opportunity comes at an excellent time when the market is showing a strong desire for townhouse sites. “In 2020, the clearance rate for townhouse development sites is more than 90%. This is exceptional in a normal market, let alone a period that we have witnessed a global pandemic. This underwrites the desire to enter this lower risk sector the development site market.” Mr White concluded.
The property is for sale via expressions of interest, due Thursday 10th December at 5pm (AEDT).
For further information please contact:
Julian White +61 422 764 137
Chao Zhang +61 411 625 068