Fitzroy site with prospects for apartments listed

A development site in Melbourne’s inner suburb of Fitzroy has hit the market and is expected to attract strong interest from developers.

The listing of the 1,132 square metre site at 62 Rose Street follows the sale of a Webb Street property earlier this month for $6.6 million at Teska Carson auction.

The purchase of the latter property has plans for a high-end, million dollar plus, apartment project.  

According to Teska Carson’s Anthony Choi, who is marketing  Rose Street and Tom Maule who sold Webb Street with Matthew Feld, enquiry for sites in and around Fitzroy has been strong.

“Demand for these type of boutique apartment project sites has been extraordinary even given the strength of the apartment market in general over the last few years. I guess the difference here is the location in what has been one of Melbourne’s hippest suburbs over the last ten or 20 years,” Choi said.

The Rose Street property is zoned Mixed Use with frontages to Rose Street and Fitzroy Street. 

Three standalone warehouses, totalling 952 square metres, are currently leased on short to medium terms, returning $168,840 per annum.

The Rose Street property will be sold by expressions of interest closing September 20.