Ringwood development: Sherbrook Ave site near Maccas, The Coach, for sale

One of the last big opportunities to develop on Ringwood’s front doorstep has arrived, with a block near a popular pub hitting the market.

The site of 6A & 8 Sherbrook Ave in Ringwood could be transformed into a high-rise reaching up to eight storeys. Picture: Kiel Egging.

A block of land near a retail hub and a pub on Ringwood’s doorstep could be transformed into another high-rise building in the booming suburb.

Agent Aston Commercial is taking expressions of interest for the sale of 6A and 8 Sherbrook Ave, covering 1404sq m.

The double block, next to a small two-storey apartment complex, is right near The Coach hotel, with Ringwood Square shopping centre also nearby, as well as Heatherdale railway station and EastLink.

It has a single-storey home that could be knocked down and potentially replaced by a mixed-use development that could reach up to eight storeys.

The block is owned by an Asian developer and is next to a bigger parcel of land facing Maroondah Highway, which it also owns.

Aston Commercial executive director Jeremy Gruzedwski said the developer was selling the small parcel of land to raise funds for a similar development on the bigger block, which is yet to be planned.

Mr Gruzedwski said he expected the block to sell for about $4m and had received more than 50 inquiries from local and interstate developers, who were looking at creating an apartment block or office complex.

“It’ll be a high-density development on that block,” he said.

“Just having the flexibility for those eight levels is significant … the height you can get increases the price someone can pay for the land.”

Mr Gruzedwski said the upcoming sale would be “a good test for the strength of the Ringwood market and that density”.

He said it was also one of the few remaining opportunities left for a multi-level development at the western end of the Ringwood Activity Centre.

“There’s not much more land left, that is one of the last blocks on the gateway as you come in towards the main shopping centre (Eastland) and along the boulevard.

“A lot of buyers will believe in the growth and longevity of Ringwood as being a satellite city, not just a suburb.”

Two other major high rise developments are planned near the Sherbrook Ave block including the East End project at 28-30 Maroondah Highway, where minor site clearing works have been carried out this year.

A mixed use complex containing up to three towers, one of which could reach 19 storeys, is planned at the site.

More than 330 apartments and townhouses over 12 storeys could also be built at 93-97 Maroondah Highway, currently home to the Genesis gym facing Seymour St and a Rivers store facing the highway.

Expression of interest in the Sherbrook Ave site close on September 22 at 3pm, and Mr Gruzedwski said the agency would look to finalise the sale shortly afterwards.