Prominent real estate developer, Genesis Property, has snapped up a 1.63ha infill development site in Epping’s urban renewal precinct, located in Melbourne’s northern suburbs, for $9.1 million. CBRE Jake George, Daniel Eramo, Nathan Mufale and David Minty negotiated the transaction on behalf of a private client.

Situated at 142-150 Cooper Street, opposite the Pacific Epping Shopping Centre and the Northern Hospital, the development site comprises a 1,800sqm office/warehouse facility and a second warehouse building spanning 1,400sqm.

The property, which has an Activity Centre Zoning, provides 81m of frontage to Cooper Street.

CBRE’s Jake George, Daniel Eramo, Nathan Mufale and David Minty negotiated the transaction on behalf of a private client.

Mr Eramo said the transaction would pave the way for a transformational project in Melbourne’s developing northern suburbs.

“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,” Mr Eramo said.

“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.”

Genesis Property’s Ken Wanes said Epping has been a highly desirable property market for owner occupiers and speculative investors over the past decade.

“We have successfully precommitted the majority of our developments prior to construction, further reinforcing the demand for high-quality built form within Epping,” Mr Wanes said.  

The property is located in proximity to amenity and transport networks, including Epping Train Station, Costco, Bunnings, Melbourne Polytechnic and Mantra Hotel.

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