'City Park' 353-383 Burwood Highway, Forest Hill_Property for Sale

353-383 Burwood Highway, Forest Hill, VIC, 3131, AU

'City Park' 353-383 Burwood Highway, Forest Hill

Asset description

A Landmark Easter Suburbs Corner Landholding with and abundance of Possibilities

Cushman & Wakefield Melbco Middle Markets in conjunction with JLL Melbourne are proud to exclusively offer 353-383 Burwood Highway, Forest Hill – City Park for sale via International Expressions of Interest closing Wednesday 16 October at 2pm. Situated in one of Melbourne’s most established residential and commercial districts, this unique offering features a high quality, fully leased office asset occupying a small portion of the land, with an exceptional and rare surplus landholding of approximately 4.7 hectares. The size and scope of the opportunity places it as one of the largest to come to market in the last decade. It features a steady income stream from the office component, making it ideal for long-term investors whilst presenting a prime opportunity to develop the vacant land for a myriad of end uses including residential, commercial, office and retail (STCA)

Investment Highlights:

+ Unique and rare corner landholding spanning approximately 56,793sqm, this exceptional property boasts a strategic location with over 92,000^ vehicles passing daily

+ Purpose-built for Hewlett Packard, this modern 3-level office building provides $2,469,367 per annum with a WALE of 2.5 years (income) (as at 1 October 2024)

+ 8,276 sqm* of net lettable area (NLA), complete with end-of-trip facilities and multiple outdoor spaces, a fully equipped gym and café, offering superior amenities

+ Extensive parking facilities including both on-grade and basement parking with a total of 194 basement car parks

+ Prime Corner Street Frontage of 451m*, with the property offering unparalleled exposure and significant future development potential

+ Versatile developable vacant land encompassing 47,730 sqm* in a flexible Commercial 1 Zone providing for residential, aged care and retirement living, commercial, and retail options (STCA)

+ Approved mixed-use development permits a landmark retail and commercial redevelopment over a portion of the site. Multiple townhouse and low-rise apartment schemes also available, addressing the urgent need for more residential dwellings in the state

+ Located in Forest Hill, which adjoins Glen Waverley and forms part of the in-demand south-east, with the area experiencing a 14% increase in median house prices over the past five years, reflecting strong growth

+ Proximity to major business hubs, positioned directly opposite one of Melbourne’s most prominent business parks, Tally Ho Business Park

+ 0 Star NABERS Energy rating providing future opportunity for ESG reversion strategies.

JLL Melbourne

Jesse Radisich | 0402 085 702

jesse.radisich@jll.com

Josh Rutman | 0411 27 37 46

josh.rutman@jll.com

Stuart Taylor | 0428 000 000

stuart.taylor@jll.com

MingXuan Li 李名轩 | 0498 688 998

mingxuan.li@jll.com

Cushman & Wakefield Melbco Middle Markets