A large development site in Melbourne’s inner-east has been brought to market, offering potential for a range of residential uses including Build to Rent.
Known as Kew One, the 3,756 sqm landholding at 79–83 High Street, Kew is being marketed by LAWD through an Expressions of Interest campaign. The site is zoned Commercial 1 Zone (C1Z), providing flexibility for mixed-use, Build to Rent, build to sell or retirement living, subject to planning requirements.
Concept plans prepared by Cera Stribley illustrate the potential for a scheme comprising 183 apartments with a net saleable area of 16,330 sqm and provision for 250 residential car parking spaces.
The property also includes an existing multi-storey office building providing 3,361 sqm of net lettable area and 111 on-site car parking spaces. According to the marketing material, the building is currently 53% occupied, with redevelopment clauses included within all leases, providing flexibility for future refurbishment, leasing or staged redevelopment. An existing permit for a two-storey office extension also remains in place.
Located approximately 4.75km from Melbourne’s CBD, the site sits close to Kew Junction and has access to tram, train and bus services, as well as the M3 Eastlink and M1 Monash Freeway. It is also positioned near Yarra Bend and Studley Park, alongside a number of established schools and healthcare facilities.
Lukas Byrns, Director, Development Transactions & Advisory at LAWD, said the combination of the site’s scale, location and development flexibility made it a rare opportunity within Melbourne’s inner eastern suburbs.
“The combination of Kew’s prestige, the site’s significant scale and landmark location, and its unrivalled access to parkland, transport and schools, makes Kew One an absolute rarity in Melbourne.
“The city is currently experiencing a scarcity of large-scale development sites and strong apartment fundamentals, due to population growth, low vacancies and an undersupply of new dwellings, which combine to make Kew One a highly desirable investment.”
Lukas Byrns, Director, Development Transactions & Advisory, LAWD
The Expressions of Interest campaign is scheduled to close at 2pm on 3 September.
