- Site is located across from the Pacific Epping Shopping Centre and the Northern Hospital
- Consists of a 1,800sqm office/warehouse with another 1400sqm warehouse
Real estate developer Genesis Property – no, not the band – knows what it likes, after snapping up a 1.63-hectare infill development site in the northern Melbourne suburb of Epping.
142-150 Cooper Street, across from both the Pacific Epping Shopping Centre and the Northern Hospital, was acquired by Genesis for $9.1 million, with the site falling under Activity Centre Zoning.
The site consists of a 1,800sqm office/warehouse facility with a second 1,400sqm warehouse. Additionally, the property has 81 metres of frontage to Cooper Street itself.
David Minty, Jake George and Daniel Eramo of CBRE negotiated the sale for their private client.
Mr Eramo is confident the transaction will result in a transformational project for the developing Melbourne suburb.
“This property, located in one of Melbourne’s fastest growing areas, is ideally suited to accommodate a major mixed-use project, build-to-rent, hotel, office or medical development.
“The Expressions of Interest sale campaign generated strong competitive interest from the development sector, highlighting the demand for key, strategic development sites within Melbourne’s north.”
Daniel Eramo, CBRE
Ken Wanes from Genesis Property added that Epping as a property market has been highly sought after by both speculative investors and owner-occupiers over the past ten years.
“We have successfully pre-committed the majority of our developments prior to construction, further reinforcing the demand for high-quality built form within Epping,”
Ken Wanes, Genesis Property