Three mixed-use superlots have been launched to market in one of Melbourne’s fastest growing corridors.
Located on the corner of Leakes Road and Davis Road, Tarneit, in Melbourne’s outer west, the three adjoining lots are well-suited to a wide range of end uses including medium density residential, retail and commercial and are located at the entrance to the 1,100 lot Heartlands estate.
The titled lots, which cover a total land area of 8,022 square metres, are development ready and perfectly positioned to serve a strong local catchment.
The landholdings are for sale individually or as a whole, providing flexibility for potential buyers.
The lots are well located at the northern gateway to The Heartlands residential community, a project by local developer Asset 1. The estate is now in its final land release, with only 10 lots left to sell, and there is therefore strong demand for services and infrastructure to support the burgeoning community.
Leakes Road is one of the primary east-west arterials connecting to the Princes Freeway and on to the Melbourne CBD which is just 26 km away.
The significant traffic volumes as residential development extends to the west presents an exceptional opportunity for retail and commercial uses.
RPM Real Estate Group is marketing the development sites on behalf of Asset 1, having worked together on the marketing of the Heartlands estate itself.
“With many of the surrounding residential estates developed some years earlier, the area has matured to a point where there is a high level of demand for a range of commercial facilities,” RPM’s head of strategy Tim Hyland said.
“In addition, there are also a number of residential developments due to be completed over the coming 12 to 18 months so the area is set to continue to grow."
RPM’s transaction manager Zaynoun Melhem said significant premiums had been achieved within the Heartlands estate.
“The natural beauty of the area, including expansive wetlands and parklands, really set the project apart,” he said.
“We have seen townhouse product performing incredibly strongly in the area of late, and as such there is high demand for medium density housing options”.
“But this site isn’t limited to any one use, so a developer can really implement their own vision here."
Melhem said the development site has attracted strong enquiry from both residential and commercial developers in the first week alone.
The lots are for sale by tender, which closes Thursday, 31 May at 4:00pm.
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