Residential Traralgon site for mixed use expects to fetch $3 million

One of the last remaining development sites in central Traralgon in Victoria's Gippsland region is on the market.

It is expected to fetch more than $3 million.

The 14-28 Dunbar Road mixed use site covering 30,900 square metres offers a range of development options, including high-density residential, retail, commercial, and aged care.

The property will be sold by expressions of interest closing November 11.

The listing agents are Julian Heatherich and James Lockwood of Savills Australia, along with Justin Clarkson of Clarkson Commercial.

"Dunbar Road forms part of the Traralgon Inner City South Precinct, a precinct designated to deliver medium density residential and employment use development opportunities," Heatherich said.

The three hectare site has a combined 326 metres street frontage, is largely vacant with the exception of several warehouse-style buildings, is close to Traralgon’s town centre and railway station.

Lockwood said estimates of current residential land supply suggested Traralgon had only a four-year supply.