The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
25 DAYS UNTIL OUR UNMISSABLE FLAGSHIP CONFERENCE 29-31 JULY, GOLD COAST
25 DAYS UNTIL OUR FLAGSHIP CONFERENCE 29-31 JULY, GOLD COAST
SECURE YOUR SPOTDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
RetailStaff WriterSun 02 Apr 17

4,720 Square Metre Slice Of Malvern Anticipated To Sell For More Than $45 Million And Encourage Urban Renewal

Screen-Shot-2017-04-03-at-11

Malvern’s Angel Tavern, together with eight adjoining retail and commercial properties were put to market to coincide with the Victorian Government’s initative to encourage development of Urban Renewal Precincts and Metropolitan Activity Centres.

The initiative was brought in to accommodate Melbourne’s growing population, which is anticipated to reach eight million people by 2050.

Colliers International’s Matt Stagg and Jeremy Gruzewski, with Gross Waddell’s Jonathan McCormack and Andrew Waddell, are appointed to the sale.

The properties occupy a high-profile location on the corner of Glenferrie Road and Dandenong Road, Malvern. The northern boundary directly neighbours Malvern train station, with direct pedestrian access.

The total underlying land area is about 4,720 square metres and is anticipated to achieve a sale price more than $45 million.

“Holdings of this scale in prime eastern-suburb locations are scarce, especially directly adjoining a major train station,” Mr Stagg said.

“It provides the opportunity to secure an Urban Renewal Precinct and transportation hub in a bluechip suburb.”

Malvern station is on the Pakenham line, about 10 kilometres east of the Melbourne CBD. Destinations include Richmond station (Melbourne Cricket Ground), South Yarra station (Chapel Street) and Caulfield station (Monash University and Caulfield Racecourse), through to the south-eastern suburbs.

The state government initiative highlighted the requirement to increase the supply of affordable and efficient housing around activity centres that provide residents easy access to jobs, retail, education and healthcare services.

It encouraged building near public transport networks that link with the $10 billion Melbourne Metro Rail Project was believed to be also vital in reducing traffic congestion and minimising Melbourne’s environmental footprint.

The Angel Tavern Urban Renewal Precinct benefits from flexible zoning and valuable air-rights, enabling a variety of mixed-use outcomes to be explored. Potential future uses include residential apartments, commercial, hotel and student accommodation (subject to town planning approval).

“The Angel Tavern is a high-profile Malvern hospitality venue that benefits from valuable gaming licences and a drive-through bottleshop,” Mr Gruzewski said.

“We anticipate it will be fully refurbished and repositioned as part of any future development.”

RetailAustraliaMelbournePlanningReal EstatePolicyPlanningPolicy
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
Exclusive

Carparking Correlation: How Parking Fees Provide Office Sector Health Check

Taryn Paris
6 Min
Molti chief Ben Teague out front of 32 Mercer Road Aramadale (rendering)
Exclusive

Buy to the Sound of Cannons: Molti’s Counter-Cyclical Move to Melbourne

Leon Della Bosca
5 Min
Exclusive

Tapping the Bunnings ‘Halo Effect’

Taryn Paris
5 Min
Exclusive

‘Construction Not a Scale Game’: Hutchinson

Phil Bartsch
9 Min
Nation's build-to-rent project Charlie Parker in Sydney's Parramatta where more projects are being located and built outside the CBD.
Exclusive

Foreign Capital Still Dominates BtR but Things are Changing

Marisa Wikramanayake
7 Min
View All >
Exclusive

Carparking Correlation: How Parking Fees Provide Office Sector Health Check

Taryn Paris
The construction site which will one day become Newcastle Tallest Tower by Urban Property Group
Residential

Urban Property Group Reveals Newcastle Tallest Tower Plan

Renee McKeown
ESR building ESR completes delisting
Industrial

ESR Reveals New Team After Hong Kong Delisting

Leon Della Bosca
Going private means plans to focus on logistics and data centres across the Asia-Pacific region can accelerate, ESR says…
LATEST
Exclusive

Carparking Correlation: How Parking Fees Provide Office Sector Health Check

Taryn Paris
6 Min
The construction site which will one day become Newcastle Tallest Tower by Urban Property Group
Residential

Urban Property Group Reveals Newcastle Tallest Tower Plan

Renee McKeown
3 Min
ESR building ESR completes delisting
Industrial

ESR Reveals New Team After Hong Kong Delisting

Leon Della Bosca
3 Min
the four concept towers approved for sydney metro's parramatta precinct
Development

Rush of Approvals Sends Parramatta Skywards

Renee McKeown
2 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/rare-slice-malvern-encourage-victorian-urban-renewal