
Exceptional Real Estate Opportunity in Malvern
A rare development opportunity has emerged at 694-696 Toorak Road, Malvern, marking the first sale of this prestigious site in over three decades. Spanning over 1,319 square meters, this blue-chip landholding is alluring for developers looking to create a boutique luxury residential project. With concept plans in place for 14 exceptional two and three-bedroom residences, the site’s potential is evident.
A Prime Location with Abundant Amenities
Positioned on the internationally recognized Toorak Road, this property is surrounded by a wealth of lifestyle amenities. Families will appreciate the proximity to leading private schools, while the vibrant retail and dining scenes of Toorak Village and Glenferrie Road are just steps away. Convenience is optimized with accessible public transport options, including Toorak Road trams and Tooronga Station, along with easy links to the Monash Freeway.
Market Insights: Why Developers Are Interested
The local real estate market in Malvern is known for its resilience and demand for high-end developments. Julian Heatherich from Savills highlights that rare opportunities like this generate significant interest, particularly from local and offshore buyers. The growing appetite for boutique luxury developments indicates a trend worth watching in Melbourne’s evolving market.
Attracting Overseas Investment
Malvern continues to attract Asian investors, recognized for its affluent lifestyle and premium properties. Heatherich notes that “Asian buyers have long shown a preference for Melbourne’s eastern suburbs.” This site’s prestige and potential for luxury output make it particularly appealing to international investors aiming to capitalize on the Melbourne property market's desirability.
Investment Considerations and Call to Action
Given the upcoming Expressions of Interest closing on Wednesday, September 18th at 2:00 PM AEST, interested parties are encouraged to act quickly. Offers are expected to start at $5 million, positioning this property as a premier investment opportunity in a market that shows no signs of slowing down.
If you’re considering property investments or development opportunities in Newcastle or wanting to stay informed about local market trends, now is the time to delve deeper into these insights for better decision-making.
Write A Comment