Boronia development: Erica Avenue apartments above Aldi for sale

Fifty apartments above an Aldi store have hit the market, while an eight-level development has been touted for another prime site in Melbourne’s booming outer east.

A render of the Erica Ave Boronia development, set to include 50 apartments and an Aldi store.

Development is showing no signs of slowing down in Boronia, with plans well underway for 50 new apartments and another prime site up for grabs.

A grand launch weekend was recently held for the four-level Pente development at 5 Erica Ave.

It will be home to 50 apartments, with a retail space including an Aldi store on the first level, with construction set to start later this year and be complete by the end of 2024.

And there could be more development on the way in Boronia, with a site at 87 Boronia Rd for sale for $2.8m, with potential for a development up to eight storeys.

Marshall White Projects director Mark Dayman said there had been more than 150 inquiries at the grand launch weekend for the Pente project, and six apartments had already sold.

Mr Dayman said the development’s proximity to Boronia train station and shops was a big appeal.

“Aldi has signed on to go into the retail space on the ground floor, and for residents, and all of them so far have been owner-occupier, for them to be able to drop down and pick up a loaf of bread and pint of milk has been well received,” he said.

He expected the Aldi to open when the development was completed at the end of 2024.

The apartments are expected to be completed by the end of 2024.

They include a mix of one, two and three bedroom apartments.

Mr Dayman said the development was also quite affordable.

Prices start from $495,000 for a one-bedroom plus flexi (a room that could be used as a study, nursery, den or library).

There are also a range of two-bedroom, two-bathroom apartments, three-bedroom, two-bathroom apartments and duplexes – double storey townhouses on the upper levels.

The three-bedroom apartments are selling for $895,000.

Mr Dayman said the developer had already signed on a well credentialed builder, Iurada.

“The site has been cleared and they’re going to do early works in about 6 to 8 weeks and construction will start soon after.”

Mr Dayman said so far all the buyers were locals, and had been familiar with Boronia.

They have included those looking to buy their first home and empty nesters looking to move into an apartment.

A site office will be open on Saturday and Sunday from 10am to noon and more details about the development are available online.

Meanwhile the site at 87 Boronia Rd has been described as “a land banker’s paradise” with “strong holding income and development potential for eight levels”.

Jones Real Estate is presenting the site to the market for sale via private negotiation.

A potential eight storey development at 87 Boronia Rd Boronia.

Returning $95,000 per annum plus GST and outgoings, it is currently leased to an established automotive dealership ‘I Car’ on an initial 5-year lease until 2027, with a further optional term of five years and three per cent annual increases, according to the real estate listing.

The site is in a Commercial 1 Zone with development potential of up to eight levels or 22.5m of building height, subject to council approval.