Development Opportunity at Upper Ferntree Gully Sold
A commercial site with redevelopment potential (STCA) in the retail precinct of Upper Ferntree Gully, south-east of Melbourne, has been sold by Ray White Commercial for $560,000.
The property on a land area of approximately 462 sqm at 1242 Burwood Highway, Upper Ferntree Gully, was sold prior to auction to a local developer by Ray White Commercial Victoria Director Brett Diston on behalf of a private owner.
Brett Diston said there was strong interest in the site which has potential for mixed use redevelopment (STCA) including retail shops, apartments or offices.
“The site was offered as a vacant possession and includes a small building of approximately 81 sqm,” he said.
“This double block is positioned on the main thoroughfare in Upper Ferntree Gully’s retail precinct close to Ferntree Plaza.”
Upper Ferntree Gully is located approximately 32km south-east of Melbourne.
In the dynamic and ever-evolving world of real estate investment, one key decision can make all the difference in the success of an investor’s portfolio: the choice of their management team.
A retail development site in the heart of Perth’s CBD has sold for $48 million. The 1,705sqm site at 96 and 110 William Street, and 255 Murray Street Mall was marketed by RWC WA agent Brett Wilkins.