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Footscray site offers prime development opportunity

Property Markets / Planning, Zoning, Infrastructure

Australia

Apr 12 2017

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April 12, Melbourne – 

Teska Carson (9421 7000) is marketing a large, vacant development site with exceptional development potential at Footscray in Melbourne’s inner western suburbs. The property will be sold by public tender closing Wednesday, May 17 at 2pm and is expected to fetch more than $4.4 million. 

The 130-186 Buckley Street property comprises a 4341 square metre allotment on three titles, with 290 metres street frontage, located on the northern side of the street, close to the intersection with Victoria Street with easy access to Melbourne’s CBD and major arterial routes.

The property is zoned Mixed Use which encourages a range of residential, commercial, industrial and other uses, which complement the mixed use function of the location, including housing at higher densities. 

According to marketing agent, Teska Carson Director, George Takis, the high profile location provides a great opportunity for potential purchasers, including developers, investors and owner-occupiers.

``This is a very well located site right on Buckley Street and close to Middle Footscray station. 

``Footscray is one of the most rapidly growing suburbs in Metropolitan Melbourne, with the location currently subject to unprecedented levels of residential and commercial development. 

``This is a direct consequence of the policies of the Victorian State Government and Maribyrnong City Council in promoting this precinct as an ideal inner city fringe location,’’ Mr Takis said.

Located just five kilometres from Melbourne’s CBD and on the banks of the Maribyrnong River, Footscray is rapidly emerging as the key destination of the inner west with a population that is expected to double over the next 20 years driving continued commercial and residential development.

Designated as a principal activity centre, Footscray’s potential was recognised as the future western arm of the Melbourne CBD, extending both the employment and residential capacity of the city’s heart.  

``We expect strong interest for this property from buyers, especially developers, at a time when Footscray is emerging as one of Melbourne’s key residential and commercial destinations,’’ Mr Takis said. 

He said the property’s key attributes included:

•The location with extensive main street frontage;

•Excellent access to all amenities including Middle Footscray station;

•Easy access to the CBD;

•Potential to capitalise on development within a designated growth centre.

About Teska Carson

Teska Carson, since its establishment in 1990, has consolidated itself as Melbourne’s most progressive and active estate agency, specialising in the field of prime commercial property. Teska Carson recently merged with Kliger Wood to form the largest privately owned commercial agency in Melbourne with a combined 100 years of service to the property industry.bvgbvquisition has enabled

Teska Carson to build on and enhance its reputation as a leader in its field offering the most comprehensive range of commercial property management and agency services with a database second to none. Teska Carson will continue its successful strategy of focusing on personal service and exceeding expectations in delivering outstanding results for our clients.  

 

SOURCE: Press Release

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