472–474 Princes Highway: Real estate in Officer expected to sell for $4.2m
Officer is set to get a retail boost to the delight of shopaholics, with a prime corner spot now on the market.
South East
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Retail lovers in Melbourne’s southeast can rest easy knowing they will have new turf to turnover, with the future of shopping landing on the market.
Savills Real Estate has released a prime corner site to interested parties, expecting it to go for $4.2 million, according to agent Benson Zhou.
“Our vendor asking price in $4.2m, and we do expect the property to successfully get such an offer,” Mr Zhou said.
“We have had a few challenges on the planning side, which has caused some delay, but we have had significant interest in the listing since it’s July release.”
With a prime location on the Princes Hwy, the property will one day define the entrance to Officer’s retail hub.
Presently owned by a syndicate, Mr Zhou said the opportunity for growth and development in the area was the biggest draw card.
“Interest in the property has come from all realms of the investment market,” he said.
“The placement of the property itself has been massively helpful in marketing it.”
“We are expecting it to sell quite soon.”
Mr Zhou said the opportunities were endless given the site classified as an Urban Growth Zone 4, and was earmarked as a “key gateway site”.
“We have had significant interest in the property, especially because it’s able to be developed with up to four stories,” Mr Zhou said.
A sizeable holding of 2800sq m, the corner landholding has future neighbours in a proposed shopping centre, that will be “anchored” by a Coles supermarket.
The site it also a short commute to the established and popular Arena Shopping Centre, with existing public transport services close by.
The property has been listed for private sale.
Any interest in the listing should be directed to supervising agents:
Benson Zhou – 0458 488 888
Julian Heatherich – 0412 995 655
Cam Zamora – 0482 888 886
gemma.scerri@news.com.au
