Ringwood: Warrandyte Rd mechanics site opposite Eastland sells for $3.86m

Ringwood is set to get another multistorey apartment complex or office tower following the sale of a prime parcel of land near Eastland shopping centre.

A mechanics that has operated right near one of Melbourne’s biggest shopping centres for more than 30 years is set to be replaced with another high-rise in Ringwood.

Agents CVA sold the site of Rodney’s Mechanical Repair Centre at 2-4 Warrandyte Rd in Ringwood in early May for $3.86m to a local development group.

The 1051sq m site was family owned and is located opposite Eastland shopping centre and the Sebel Hotel.

CVA director Ian Angellico said the company was pleased with the outcome after assessing multiple offers through an expression of interest process.

Mr Angellico said the buyer was a “seasoned developer” and had plans for an offices or apartment building of up to eight storeys.

“Being an island site, the natural light available to the future project will be a key feature coupled with the landmark position virtually on the corner of Warrandyte Rd,” he said.

The mechanics will remain tenants at the site until at least March 2023.

Two other high rise commercial buildings are also planned near Eastland on land belonging to centre owners Queensland Investment Group.

They include the $100m, 11-storey EastCo tower next to Ringwood railway station, which is almost completed and will be the new home of the Department of Transport.

QIC also submitted plans to Maroondah Council in December to build another office tower, reaching 10 storeys, at 17-21 Ringwood St, in front of Ringwood’s Costco warehouse.