As Melbourne’s north-west continues to boom, developers are recommended to take particular note of the latest opportunity brought to the market by Real Properties.
492 & 494 Pascoe Vale Road in Strathmore is a premium development offering with strong-returns potential from the considered approved planning permit and development scheme. Potential purchasers will recognise the strength of the approved permit, which encompasses 82 apartments, 2 retail shops and 139 car spaces, upon receiving a copy of the plans.
There also exists the opportunity to pursue an alternative scheme for 18 three-storey town homes (STCA).
The team at Real Properties are proud bring this development opportunity to the market. Expressions of interest are being received until 5pm Thursday 8 August 2019.
“This project has success written all over it,” Real Properties agent Joseph Catanese proclaims.
“Not only will developers be able to explore the currently approved mixed-use plans, but they could also pursue an alternative scheme that’s been prepared by the current owner involving 18 three-storey homes – subject to the proper council approvals of course.”
With a median house price of $1,250,000* Strathmore marks an affluent centre of the Moonee Valley municipality, where demand exceeds supply and some of Melbourne’s best lifestyle amenities lie right on the doorstep. (*Core Logic – June 2019).
Within walking distance of the property, future residents will discover several parklands, Essendon DFO, multiple café and restaurant precincts, and local schools Strathmore Secondary College and Strathmore Primary.
“The ease of coming and going is also a major asset for this site,” Mr Catanese added.
“Pascoe Vale Train Station is just 500m down away and several bus routes are in immediate proximity. Not to mention that 200m away on and off ramps leads commuters on and off the Tullamarine Freeway.”
Summary:
- Significant site area of 3,235sqm: Mixed Use Zone
- Approved permit for 82 apartments, 2 retail shops & 139 car spaces
- Alternative development scheme for 18 three-storey town homes (STCA)
- 200m from Tullamarine Freeway on and off ramps
- Walking distance to Train Station (500m), and close to a range of other amenities
Please note that all financials, measurements and distances quoted are approximate only.
Expressions of interest are being received until 5pm Thursday 8 August 2019.
For more information on this opportunity, and to receive a copy of the approved planning permit, please contact the Real Properties team and mention Development Ready.
Real Properties:
Joseph Catanese: +61 418 367 514
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www.492pascoevaleroad.com.au
