Development Site

Thursday 11 February 2016

Written by The Australian Jewish News

Burgess Rawson is currently marketing an allotment of 4,083 square metres at 46-48 Macedon Street, Sunbury.

Due to go under the hammer on Thursday 25 February at 12pm on-site, selling agents Ben Appel and Nick Breheny are anticipating wide-ranging interest in the site, which they say has sat under utilised for more than 12 years. They report that its previous uses have included a petrol station operation, but the site was shut down and remediated many years ago to accommodate other uses. Held by a local family for more than 20 years, the prominent block has 40 metres of frontage to Macedon Street next to an office complex and close to the local shopping centre and train station.

The agents say that more than 26,000 cars are estimated to pass the site daily and the flexible Commercial 1 zoning allows for a multitude of uses including retail, office, fuel, childcare, medical, mixed use and possibly residential such as apartments or aged care (STCA). The site is very accessible via both the Tullamarine and Calder freeways.

They expect competition from various development interests to lead to a sale price in excess of $1.8 million.