Savills Melbourne set to sell 99-101 Maroondah Highway in booming Ringwood activity centre

An abandoned building in Ringwood’s booming activity centre is up for grabs, with more than 100 buyers already showing interest in the site.

A former retail site at 99-101 Maroondah Highway in Ringwood is up for sale. Picture: Kiel Egging.

A prominent Ringwood retail site is set to sell for more than $8 million early next month.

Savills Melbourne has received more than 100 expressions of interest in 99-101 Maroondah Highway from local and international buyers.

The site is adjacent to the Staley Gardens and Ringwood’s Costco Store and also has rear access to a carpark on Seymour St.

The 2301sq m building has previously been home to big name retailers including Rebel Sport, Barbeques Galore and JB Hi-Fi.

It’s next to Ringwood’s Rivers store and a 300m walk from Ringwood railway station and Ringwood Town Square.

Savills Melbourne sales agent Yvonne Zhou said the site was ideal for an office or mixed-use building which could be eight to 10-stories.

She said the site was in a prime location in the Ringwood Activity Centre which was booming with new developments.

“It’s definitely a development site, and we’re definitely seeing an increase in commercial development in that immediate precinct,” Ms Zhou said.

The abandoned site at 99-101 Maroondah Highway is expected to sell for more than $8 million. Picture: Kiel Egging.

“It’s a limited precinct along Maroondah Highway and it definitely occupies one of the best locations in the Ringwood activity zone.”

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Ms Zhou said expressions of interest for the site would close on Thursday, October 3 and Savills expected to finalise the sale a week or two later.

Meanwhile, not far down the road, construction is ramping up on a five-storey office complex being built at 60-62 Maroondah Highway.

Agents CBRE and Dawkins Occhiuto sold the building for $28.3 million to a Macau-based investor late last year, which is being built by the Pellicano Group.

The State Government has a 12-year lease on the building, which will offer 3325sq m of office space and 74 undercover carparks.

Pellicano Group spokesman Hamish Watkins said workers were busy excavating at the site for three levels of underground parking.

He said construction of the building was set to be finished in May or June.

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