Stonebridge Property Group has been instructed by Wexted Advisors to undertake a mortgagee sale on a landholding within the south-eastern suburb of Noble Park. The dual fronted vacant offering sprawls approximately 36 metres across the Ian Street shopping village and encompasses a staggering 1,388sqm all with underlying Commercial 1 zoning.
20-30 Ian Street, Noble Park offers purchasers a range of options. The first option, an existing permit for student accommodation. The second option, a franchise agreement with global hotel operator ‘Wyndham’. The former, allows for a four (4) level 83 student apartment development under the current planning permit. This option is also complemented by six (6) ground floor retail offerings along with an impressive communal courtyard, a high-quality, eye catching design, with no requirement for basement car parking.
The latter option secures hotel giant Wyndham on an existing franchise agreement. The multifaceted hotel chain boasts 16 world class hotel brands in more than 70 countries and is planning an 83-guest room hotel offering food and beverage services, fitness centre and commercial meeting spaces.
The offering also falls within the Noble Park Activity Centre and is conveniently only a short 1 min walk to the Noble Park Train Station. The Victorian Government has committed $2.5 billion to guarantee the success into the rail corridor through the Noble Park precinct. This further upgrades the Pakenham line which connects students to Monash University (Caulfield and Berwick campus’), Melbourne University as well as several prominent secondary schools.
Stonebridge Property Group’s development site sale team of Julian White, Chao Zhang and Max Warren have been appointed to market the property.
“With the Victorian government investing $190m into the Greater Dandenong municipality along with substantial rail projects in the pipeline this gives us great confidence that this amenity rich area will receive interest from a range of developers.” Mr. Warren commented. “As a result, we foresee great interest from local and international developers looking to catch up to growing demand for sites in 2021.”
The site is for sale via Expressions of Interest campaign closing Thursday 13th May 2021 at 2pm (AEST).
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