Triple the opportunity in The Domain Precinct, South Yarra
Posted on February 15, 2016
Melbourne, 08 February 2016 –Three adjacent properties in ‘The Domain Precinct’, one of Melbourne’s most thriving residential regions, are about to hit the market - in a move which is expected to unlock significant local and offshore buyer interest.
CBRE’s Mark Wizel, Julian White, Scott Orchard and Bianca Butterworth in conjunction with Andrew Macmillan and Nathan Waterson of Jellis Craig have been appointed to manage the sale.
The three properties, located at 30 Anderson Street, 25-29 Kurneh Place and 216-218 Domain Road, offer a total area of 2,655sqm and are available individually or in one line.
Director of Jellis Craig, Mr Andrew Macmillan highlighted the superb location the property occupies “The location encompasses the tranquil Royal Botanic Gardens and Fawkner Park, iconic fashion destination ‘Chapel Street’ and neighbours the St Kilda Road commercial and residential boulevard. The sites further benefit from close proximity to acclaimed arts and international sports precincts and some of Melbourne’s leading educational institutions.”
“It is little wonder that the precinct’s elegant, tree-lined streets are home to some of the country’s most sought after real estate - which continues to record some of the state’s highest land and capital improved values.” Mr Macmillian concluded.
Mr Wizel said the flexible investment and development opportunities offered by these sites, combined with the desirable South Yarra location, would appeal strongly to residential developers both locally and offshore. “We are witnessing a maturation of Asian investment into less conventional inner city development offerings. This property has a limitless list of premium attributes that will mean it is also highly sought after by Asian, and in particular Chinese buyers”
The properties have been in the one ownership for over 40 years and are being sold on behalf of the Executors for the estate of the late owners. “Properties such as this are not for auction every other Saturday, they are rare commodities and highly sought after opportunities when presented to the market” said Mr Wizel.
The sites will be sold via an International Expressions of Interest campaign, closing Wednesday 16th March at 2pm.