Expression of Interest – 82 Johns Road and 218 Main North Road, Prospect
City of Prospect has just released a key piece of inner metropolitan main road property for the first time ever. 82 Johns Road and 218 Main North Road, Prospect is now on the market with an expressions of interest process underway. The release to market included an event in the historic Prospect Tram Barn on the site. The Tram Barn proved the ideal venue to showcase the opportunity that the property presents, with the State heritage listed building well-suited to adaptive re-use, and surrounded by a significant area of land ripe for new development in the Urban Corridor Zone.
The event highlighted the success that City of Prospect has had in supporting new development proposed along its main roads, with apartment-style development of up to four storeys possible along Main North, Prospect and Churchill Roads. UDIA members would know of the growth in apartments and townhouses along Churchill and Prospect Roads, and this site presents a great opportunity to make a statement on Main North Road and forma catalyst for the future of that boulevard.
With an impressive total frontage of 82m (approx.) to Main North Road presented as a full block addressing two corners (Johns Road and Gordon Road), and with exposure to an approx.. ,000 passing vehicles every day, the site is the perfect opportunity for a commercial/ retail/ mixed use redevelopment. The site stretches some 115m west along Johns Road, which offers a peaceful and attractive residential environment, so the site is also ideally suited to the development of townhouses or apartments.
With around 6,200sqm (approx.) of land available in total, Council is open to considering a variety of tenure options for the site, including sale, land division and sale, part sale and/ or part lease. Council is keen to hear what your vision of the site would be, alongside the financial offer, to ensure that your vision maximises the development potential of the site while aligning with Council’s vision for the future of Main North Road. If you’re familiar with the success stories of Prospect Road and Churchill Road, you’ll know that you’re dealing with a Council with vision.
With expressions of Interest closing Thursday 23rd November 2017 at 4.00pm, contact Council’s agents CBRE on the details below to receive an Information Memorandum, or visit realcommercial.com.au to find out more.