THE PROPERTY DEVELOPMENT REVIEW
353-383 BURWOOD HIGHWAY, FOREST HILL
Expansive 56,793 sqm* Commercial 1 Zoned Site Approved mixed-use development Suitable to a variety of end-uses
CUSHMAN & WAKEFIELD 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 (AEDT). 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).
Unique and rare corner landholding spanning 56,793sqm*, this exceptional property boasts a strategic location with over 70,000* vehicles passing daily.
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. Versatile developable vacant land of 47,730sqm* in a flexible Commercial 1 Zone providing for residential, aged care and retirement living, commercial, and retail options (STCA).
Purpose-built for Hewlett Packard, this modern 3-level office building provides $2,469,367 per annum of income with a WALE of 2.5 years (income) (as at 1 October 2024).
8,276sqm* 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.
Proximity to major business hubs, positioned directly opposite one of Melbourne’s most prominent business parks, Tally Ho Business Park.
Prime corner street frontage of 451m*, with the property offering unparalleled exposure and significant future development potential.
0 Star NABERS Energy rating providing future opportunity for ESG reversion strategies.
LEON MA 马海翔 +61 417 070 725 Leon.Ma@cushwake.com DANIEL WOLMAN +61 412 957 839 Daniel.Wolman@cushwake.com
OLIVER HAY +61 419 528 540 Oliver.Hay@cushwake.com JOE KAIROUZ +61 421 430 638 Joe.Kairouz@cushwake.com
JOSH RUTMAN +61 411 27 37 46 josh.rutman@jll.com STUART TAYLOR +61 428 000 000 stuart.taylor@jll.com
MINGXUAN LI 李名轩 +61 498 688 998 mingxuan.li@jll.com JESSE RADISICH +61 402 085 702 jesse.radisich@jll.com
September / October 2024 – 57
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