Controversial Plenty Road, Bundoora development site listed

One of the largest residential development opportunities in the metropolitan area in more than two years is on the market for $10 million plus.

The 13,330-square-metre Bundoora site at 1091 Plenty Road holds a permit for 361 apartments across six towers – ranging in height from three to eight levels.

The site also offers more than 1,000 square metres of commercial and retail space.

“Located within one of the fastest growth corridors in Australia and positioned between La Trobe and RMIT universities, the site is set to become the cornerstone of Bundoora, playing a pivotal role in the surrounding area’s future development,” says Jamus Campbell of CBRE.

“With over 180 degrees of frontage to Bundoora Park, the residential component of this development will benefit from a luscious leafy outlook, whilst still being in the heart of metropolitan Melbourne,” says Campbell.

Scott Orchard of CBRE says by releasing the residential aspect of the project in stages, the development can be paced according to sales demand.

The site has been reported about in the media numerous times, with some 600 Bundoora residents opposing the development proposal.

Opposing parties argued the development is out of character with the low-density suburban nature of the area and will impose too much additional traffic on Plenty Road.

The first proposal for the site - designed by Cornetta Partners Architects - was unanimously rejected by the local council.

A revised plan was put to Darebin City Council, this time designed by Peddle Thorp Architects and features mid-rise towers.

The site is marketed as an expression of interest campaign closing December 4 through Jamus Campbell, Scott Orchard and Mark Wizel of CBRE.