Savills marketing mixed-used Fitzroy North development site

A Fitzroy North landholding on Queens Parade with triple street frontages is being offered to market.

The 3,200 sqm development site is situated on a prime corner landholding at 81-89 Queens Parade, with triple street frontages to Alexandra Parade, Queens Parade, and George Street.

Savills Australia’s Clinton Baxter, Jesse Radisich and Benson Zhou have been appointed to manage the expressions of interest campaign with expectations of above $18 million.

“The upside potential of this site is profound, and we have already commenced fielding interest from major local and offshore developers keen to know more about this project,” said Mr Baxter.

“There is approved planning in place for an 8-level Cox Architecture mixed-use commercial project.”

“81-89 Queens Parade is arriving at a time and place that meets the strongest commercial office markets in decades,” added Mr Baxter.

Mr Zhou said that “whilst there has been talk of reducing Chinese capital in our market, Savills has sold more than half of our last 20 deals to buyers of Chinese background. Really there has been a flight to quality projects and investments, the money definitely is still there for the best projects like this one.”