Australia Post Glenroy site sells for $3.3 million
A former Australia Post site has sold for a wild multimillion-dollar sum — well above its reserve. Experts think it means one thing.
A former Australia Post building in Glenroy has sold for $3.3m, 40 per cent above its auction reserve price, signalling a surge in investor interest in Melbourne’s northwest.
The 978sq m site at 9-11 Post Office Place, just 35 metres from the recently upgraded Glenroy Train Station, was hotly contested at auction, with a mix of local business owners and major residential developers battling for the property.
The winning bidder, an investor, plans to hold the site before moving toward development in the medium term.
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Colliers head of investment services Victoria, Matthew Stagg, said the result was a clear indicator of where Melbourne’s property market was heading.
“The northwest is growing faster than the southeast, and investors are taking notice,” Mr Stagg said.
“This sale proves Glenroy is no longer just an affordable outer suburb — it’s a serious investment hotspot.”
The double-storey former post office building, established in 1888, has been a Glenroy landmark for decades.
Once a key hub for communication and commerce, the site is now poised for a major redevelopment, with zoning allowing for retail, hospitality, office, or high-density residential use.
The sale comes as Glenroy undergoes a massive transformation, backed by $500m in public and private investment.
Key projects driving growth include the state govenrment’s $285m level crossing removal project, which delivered a brand-new train station and improved traffic flow as well as the Glenroy Structure Plan, which aims to turn the suburb into a high-density activity centre.
There are also education and public space upgrades, including a $9.2m revamp of Glenroy College and new green spaces planned by Melbourne Water.
Mr Stagg said Melbourne’s northwest had become a prime target for investors that had historically been focused on the southeast.
“The southeast is a mature market, whereas the northwest is still growing from a lower base, meaning we’re seeing higher capital growth potential,” he said.
“This auction result is a sign of what’s to come — demand for commercial and mixed-use sites in the northwest is only going to get stronger.”
With Glenroy’s rezoning, new infrastructure, and increasing demand, Mr Stagg predicts record-breaking sales are on the horizon.
“This is just the beginning for Glenroy,” Mr Stagg said.
“Now is the time to invest, before prices climb even higher.”
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Originally published as Australia Post Glenroy site sells for $3.3 million
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