Stonebridge Property Group is pleased to present for sale, 579-581 Park Road, Park Orchards, an expansive 7,023 sqm* landholding with excellent view aspect, offering flexible development outcomes including residential, aged care/retirement living and medical (STCA).
Located 30-minutes from the Melbourne CBD, Park Orchards has previously been named one of Australia’s most in demand suburbs for residential housing (2) and currently has zero aged care or retirement living facilities in the suburb (3) - providing an exceptional opportunity for developers.
Key highlights include:
- Prominent 7,023 sqm* landholding with flexible development outcomes
- Development options include residential, aged care/retirement living or medical (STCA)
- Prior permit approval for 91-bed aged care
- Expansive 127 m* frontage to Park Road
- Only 50 m* to Park Orchards Shopping Village and 2.4 km* to North Ringwood Shopping Village
- Surrounded by prestigious schools including Park Orchards Primary School directly across the road, Whitefriars College (1.8 km*) and Donvale Christian College (1.9 km*)
- Median weekly incomes are 62% higher than the Victorian average (4), highlighting the ability for residents to spend on housing and healthcare
- Pent-up demand for housing highlighted by a median house price of $1,930,000 (5)
- Existing improvements include a 2-storey Spanish architecture style building, formerly known as the ‘Park Orchards Chalet’
To obtain further information, or to arrange an inspection, please contact the exclusive selling agents.
* Approximate
^ STCA
2 Realestate.com.au
3 Gap Maps (2024)
4 ABS (2021)
5 REIV (2024)
