An opportunity to capitalise on the white-collar growth of a Melbourne fringe suburb is now available through Gray Johnson.

Expressions of interest are being sought for a development site at 43-47 Simpson Street, Northcote after the sales campaign for the site was re-launched by the agency with an indicative price of about $3 million.

Comprising 783 square metres, the property comes with frontages to Simpson Street (22.57 metres approx.) and Roberts Street (34.65 metres approx.), as well as a planning permit for 18 apartments, three shops and a cafe.

At glance: 

• A development site at 43-47 Simpson Street, Northcote is for sale with an indicative price of about $3 million.
• Comprising 783 square metres, the property comes with a planning permit for 18 apartments, three shops and a cafe.
• The property is being marketed through Matt Hoath and Rory White of Gray Johnson.

Gray Johnson Director Matt Hoath said there had already been "super strong" inquiry from developers for the site.

"This represents a unique opportunity to acquire a boutique development site in one of Melbourne’s most popular inner-city suburbs," he said.

Source: Gray Johnson

"Many of our experienced developer clients are aware that there is a lack of quality stock in this inner northern location and that residential owner-occupiers (apartment buyers) make informed decisions around accessibility to transport and lifestyle amenity."

Once historically known for its working-class roots, Northcote has evolved since the turn of the century to reflect a more professional landscape.

Following the 2018 state election, The Age reported the percentage of professional jobs in the area had grown from about 20 per cent in 2001 to nearly 40 per cent 15 years later. 

Source: Gray Johnson

Mr Hoath said the change was the result of a "major shift in demographics".

"The local population was previously dominated by industry and manufacturing, whereas today the current employment mix features professional services and career managers being the predominant occupation," he said.

For more information about 43-47 Simpson Street, Northcote, email or phone Rory White or Matt Hoath via the details provided below.

Click here to view the listing.

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