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315-319 Burwood Highway, Burwood East
MELBOURNE, 30 MAY 2013 – A local developer has paid $5.25 million for a high profile, mixed use development site owned by supermarket giant ALDI at 315-319 Burwood Highway, Burwood East.
Following the successful opening of ALDI stores at Burwood East (Kmart Plaza) and Forest Hill, ALDI instructed Jones Lang LaSalle to act on their behalf to sell the site that was surplus to their needs.
Stuart Taylor and Stephen Bolton sold the 6,013 square metre vacant site located on the north-west corner of Burwood Highway and Mahoneys Road via private treaty.
Situated approximately 17 kilometres east of Melbourne’s CBD, the property is zoned mixed use with a massive 82 metre frontage to Burwood Highway and a secondary frontage to Mahoneys Road (approximately 73 metres). The site is located opposite one of metropolitan Melbourne’s premier office/business parks, Tally Ho Business Park, which is home to several big name tenants including Hewlett Packard, Motorola and MYOB.
The property is also adjacent to the Peter James Medical and Aged Care facility and is within close proximity to several shopping centres and national retailers, schools, universities, parklands and recreational reserves.
The site had an existing planning permit for a supermarket, shops totalling approximately 2,500 square metres and a four level office building of approximately 4,300 square metres.
Mr Taylor said “the site’s flexible mixed use zoning allows for a range of development outcomes, and we expect the purchaser will amend the planning permit to include a residential component”.
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