Camberwell development site tipped to fetch more than $11.5 million

A development site in Camberwell has hit the market, with Savills Australia’s Jesse Radisich, Julian Heatherich, Nick Peden and Benson Zhou appointed to sell the permit-approved site.

Located at 1052-1058 Toorak Road, they say they are expecting the property to generate significant interest throughout the expressions-of-interest campaign. 

The permit includes 33 apartments and four townhouses designed by C. Kairouz Architects, with more than 105 metres of combined street frontage to Toorak Road and Dickens Street.  

“Securing a corner site of this scale in such a premium location is truly rare, and the opportunity is also likely to appeal to aged care and childcare developers/operators, who will no doubt appreciate the large landholding on offer”, Mr Radisich said. 

“This landmark project will provide a genuine luxury product into one of Melbourne’s most sought after and superior residential locations, with an average unit size of approximately 117sqm,” he added.

The site is within close proximity of some of Melbourne retail precincts, including Hartwell Retail Village, Tooronga Shopping Centre and Camberwell Junction, along with education facilities, parks and recreation facilities and public transport. 

The expressions of interest campaign closes October 16.