A large 12ha site in the centre of Officer, one of Melbourne’s fastest growing suburbs in Melbourne’s south east growth corridor has hit the market and is expected to achieve north of $25m.
Stonebridge Property Group’s Julian White, Dylan Kilner and Chao Zhang have been appointed to market the three properties at Lots 1, 4, & 5 Starling Road, Officer.
The large parcel of land is a unique offering being zoned medium density under the Officer Precinct Structure Plan and a favorable lot density of 25 lots to the hectare. This would support close to 230 lots.
The site comes to the market at the time when exceptional sales rates are being recorded in the South Eastern growth corridor of Melbourne.
“From 2016-2019, the Officer precinct recorded one of the fastest increasing populations in Victoria of 22% pa during this period. In addition, over the past 12 months, the Officer median house price has achieved growth of 5.26%, which is clear highlight of more demand than supply in Officer for residential accommodation”, said Stonebridge Partner Julian White.
“Coupled with these strong residential statistics is this landholding is in a high central position in Office, being easy walking distance to the future Officer Town Centre, and Officer Train Station” added Mr White.
Manager at Stonebridge Property Group, Dylan Kilner also noted the rarity of this scale of landholding in such a central position “It is not often that a parcel of this size and scale come to market, with most comparable properties of this scale secured in advance via listed property developers land banking for future projects.”
The property is for sale via Expressions of Interest closing Thursday 1st April 2021 at 2pm (AEDT).
For further information please contact:
Julian White | 0422 764 137 | jwhite@stonebridge.com.au
Dylan Kilner | 0459 396 341 | dkilner@stonebridge.com.au
Chao Zhang | 0411 625 068 | czhang@stonebridge.com.au
