335 Berwick-Cranbourne Rd – prime real estate for any style of development in a massive growth corridor
One of the last undeveloped parcels of land in Melbourne’s southeast is providing potential buyers with a “blank canvas” for development.
South East
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One of the last patches of undeveloped land in a lucrative southeastern suburb is set to fetch make the owners a hefty sum as it hits the market.
CBRE has listed 335 Berwick-Cranbourne Rd in Clyde North for sale to the open market, with agents fielding any and all offers.
Lead agent David Minty said the land had been with the owners for more than three decades and they were looking to move on.
“The owners have had the land for upwards of 34 years,” he said.
“They’ve seen what’s happening in Clyde, and the surrounding suburbs, so they’ve decided to test the market.”
Mr Minty said the land was zoned as residential, but the opportunity for development was there for the 12,140sq m land.
“It’s a corner site, so it really opens up the door for alternative uses,” he said.
“Things like a new servo, a fast food venue, childcare, even a medical centre would fit nicely onto the land.”
Mr Minty said despite the listing only being up for under a week, agents had already fielded interest from experienced local developers and investors.
“We’ve had people calling in, because they’ve driven past the property on a regular basis,” Mr Minty said.
“These are people who know the site and are familiar with the area, which tends to be the case with the first round of interest in most spots like this.
“The people who are scrolling through the net or through commercial databases tend to come in after locals.”
Mr Minty said the owners were looking to sell, rather than develop the land themselves.
“The owners aren’t experienced in developing at all, and developing a property like this comes with an amount of risk,” he said.
“They’re looking to pass that risk on to someone else, rather than take it on themselves.”
“It is zoned for residential purposes at this point, so anybody is open to take possession of the site and make it work for what it’s worth to them.”
The land is close to a number of schools and existing public services, including sports grounds, shopping centres and parklands.
Expressions of interest are open until June 8. More information regarding the site can be found here.
gemma.scerri@news.com.au
