329 Johnston Street Abbotsford

Sale

DEVELOPMENT 2.0

Melbourne’s Population Growth Is Well Documented. We Were Told There Was A Slow Down Coming… This Hasn’t Come. We’re Now Being Told There’s Higher Than Expected Population Growth & A Decrease In The Number Of Forthcoming Developments.

Ground Floor – Retail… First Floor & Above – Apartments… Strata Title & Sell One By One… This Is The Traditional Development Model. While Still Highly Successful, It Has Created Its Successor… Enter Development 2.0!!

Developers Are Now Planning & Undertaking Commercial Only Development Schemes. Why? There’s Been Little To None Planned Or Built Over The Last Decade, While City Fringe Locations Became More & More Densely Populated By The Mixed Use Developments.

These Apartments Haven’t Been Cheap. They’ve Brought In A Large Number Of Residents With Disposable Income. This Has Caused A Substantial Increase In The Demand For Shared Office, Offices & Childcare.

Strata Title & Sell One By One? This Model Isn’t Going Anywhere However, Continued Low Interest Rates & High Rental Returns Has Brought In The Build To Rent Model & Large Private & Industry Based Investors, Who Have Been Acquiring Whole Development Projects Quicker Than They Can Be Built.

329 Johnston Street Is An Amalgamation Of 6 Titles. It Falls Within The City Of Yarra’s Adopted Johnston Street Local Area Plan Which Not Only Earmarks The Site For Rezoning To Commercial 1 But Is Also The Precursor To The Forthcoming Johnston Street Gentrification. Cited As An “Important Corner Building” This In An Exceptional Development Opportunity On A Near Island Site.

Located Abutting The Yarra River & On A Major Thoroughfare Between The Affluent Eastern Suburbs & The City Fringe – This Precinct Has Been Held Back By Inappropriate Zoning & Planning Schemes For Years… That’s All Changed Now!!

The Market Is Screaming For Commercial Based Developments… Sites Are Being Rezoned & Receiving Appropriate Development Heights… Johnston Street Is Already At The Start Of Its Gentrification Process…

The Only Question Is, Who Will Take Advantage Of It First!!

For Sale By Expression Of Interest Closing 27 October Unless Sold Prior.

Please Contact Agent For Further Details.

 

Jack Teneketzis