A 3,697sqm site in the heart of Templestowe, one of Melbourne’s strongest performing housing markets, has hit the market at a time when the Templestowe median house price has increased 17% since January.
Stonebridge Property Group’s Julian White, Dylan Kilner and Chao Zhang have been appointed to market the property at 348 Porter Street, Templestowe.
The property boasts a permit for ten (10) well designed townhouses which are expected to be delivered by the potential purchaser in the short term to take advantage of the buoyant end sales market.
“Off the back of the growth in the median house price, we have witnessed much increased demand in townhouse development sites in the eastern suburbs of Melbourne” said Stonebridge Partner, Julian White. “This has led to us selling five (5) development sites in this sector of the market over the past six (6) weeks”. Mr White concluded.
“A lot of townhouse developers did not refill their pipelines in 2020. It has caused a supply/demand imbalance in 2021, as demand has increased significantly for townhouse product. This site having a permit approval makes it an excellent opportunity for consideration, as speed to market of the townhouses is achievable,” said Dylan Kilner.
The property is for sale via Expressions of Interest closing Thursday 19th August 2021 at 2pm (AEST).
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