Development/Land

Stonebridge Property Group is pleased to present for sale 421-431 Gordon Street, Maribyrnong, a significant 2,158 sqm* site, with a highly advantageous dual street frontage of a combined 105 metres*.

The property is permit approved for 51 apartments, 10 townhouses and retail. The flexible Commercial 1 Zone offers a range of alternative development outcomes, with several schemes available including townhouses and multi-residential for review (STCA).

Located only 50 m* from the Edgewater Boulevard retail precinct, and Aldi (120 m*), and 1.2 km from Highpoint Shopping Centre, the 5th largest shopping centre in Australia, the property also benefits from an abundance of education options with several primary and secondary schools and universities within walking distance: Footscray North Primary School (600 m*), Maribyrnong College (700 m*) and Victoria University (900 m*).

The precinct is set to benefit from the new $1.5 billion Footscray Hospital, currently under construction and set to be completed in 2026, located 1 km* from the property. Maribyrnong’s population is set to increase by a near 70% by 2051 and has a significant undersupply of housing with a 1.72% vacancy rate, providing opportunity for developers to capture value uplift as the precinct matures.

Excellent public transport, with a tram stop directly out the front of the property along Gordon Street, the property has easy access to the CBD via Ballarat Road (600 m*) and the Princes Freeway (1.2 km*).

The key investment highlights for consideration include:

- A substantial 2,158 sqm* landholding, with dual street frontage of 105 m*

- The property is permit approved for 51 apartment, 10 townhouse and retail

- Flexible Commercial 1 zone with several alternative development schemes available (STPA)

- Exceptional retail amenity, with local retail including Aldi (only 120 m*), and Highpoint Shoppin...