Development site in Melbourne's Caulfield North to go under the hammer

A development site in Melbourne's Caulfield North is to be auctioned off on June 8 through Savills Australia and is expected to fetch around $3.9 million.

The 41-45 Hawthorn Road property comprises an 893 square metre site with retail frontage to Hawthorn Road and a flexible Commercial 1 Zone. Current improvements include a single and two-storey building.

It is being marketed by Savills’ Nick Peden and Jesse Radisich

Radisich said apart from public transport and retail, there were several schools, parks and recreation facilities nearby, including Melbourne and Caulfield Grammar, Caulfield Racecourse and Caulfield Park Bowling Club.

"Caulfield North and surrounds have been high on the list of desirable suburbs for those seeking apartment living and the demand has been driven further by a high median house price of $1,850,000 in the suburb,” Radisich said. 

The property will be sold with vacant possession.