A landmark Toorak Village development opportunity capable of delivering a potential $200 million-plus luxury residential project is set to hit the market, as Melbourne’s super-prime apartment sector continues to establish new pricing benchmarks.

CBRE’s Nathan Mufale, David Minty, Scott Hawthorne and Jing Jun (JJ) Heng have been appointed to market 39-41 and 43 Ross Street, Toorak for sale via an international Expressions of Interest campaign closing Friday 30th October.

Offered as one combined holding, the property comprises an approximately 1,400sqm landholding across six titles, with more than 30 metres of frontage, positioned in the heart of Toorak Village.

The site has been progressively assembled by VSV Holdings, creating an increasingly rare opportunity to secure a substantial consolidated holding within one of Melbourne’s most tightly held residential precincts.

Landholdings of this scale in the heart of Toorak Village are exceptionally difficult to assemble and increasingly difficult to recreate, providing prospective purchasers with a level of scale rarely offered to the market.

Award-winning architects Fender Katsalidis has prepared bespoke architectural drawings for the site, highlighting its potential for a landmark luxury residential development.

VSV Holdings’ Director William Vavasis said demand was increasingly being driven by affluent downsizers and owner-occupiers seeking large, secure and highly amenitised residences.

“There is a growing buyer pool looking for the scale, quality and privacy of a substantial home without the maintenance,’ Mr Vavasis said.

“The market is increasingly demanding what are effectively houses in the air, and with Melbourne’s best apartments now approaching $50,000 per square metre — still well below Sydney’s top end of more than $100,000 per square metre — there appears to be significant room for Melbourne’s premium market to mature.’

The offering comes amid what is becoming a generational repositioning of Toorak Village, with major luxury developments including One Toorak Place and 111 Mathoura Road, together with significant investment throughout the precinct, reshaping the Village and reinforcing its emergence as one of Melbourne’s premier ultra-prime residential destinations.

Melbourne’s luxury apartment market is continuing to strengthen with recent sales at developments including Como, One Toorak Place and Maison Savoy continue to demonstrate strong demand for high-quality, large-format residences.

The property directly adjoins the former Mercedes-Benz Toorak dealership at 17-19 Carters Avenue, which was transacted by CBRE in 2022 for $67 million.

CBRE’s Nathan Mufale said the combination of scale, scarcity and investment occurring throughout Toorak Village made the offering particularly significant.

“An amalgamated holding of this scale in the heart of Toorak Village is exceptionally difficult to recreate,’ Mr Mufale said.

“Combined with the significant investment now occurring throughout the Village, it provides an opportunity to participate in the generational repositioning of one of Melbourne’s most tightly held and affluent residential precincts.

“This is not simply a land offering — it represents the opportunity to create a landmark residential project in the heart of Toorak Village,’ Mr Mufale added.

39-41 and 43 Ross Street, Toorak is being offered for sale via International Expressions of Interest through CBRE.

39-41 Ross Street, Toorak VIC 3142