A prime permit-approved townhouse development opportunity at 467 New Street, Brighton has come to market, offering a footprint in one of Melbourne's most sought-after bayside suburbs that is experiencing a notable shortage of townhouse developments.

The 1,629sqm* site features approval for 10 luxury townhouses designed by renowned Cera Stribley Architects, along with an existing block of 9 apartments providing valuable holding income.

JLL's Jesse Radisich, Maddie Pizzey, and Xander Yeo have been appointed to sell the property via an International Expressions of Interest campaign closing Thursday, 10 April 2025 at 2pm (AEST).

Mr Radisich said: "Developers are actively considering this type of property because it presents a rare, permit-approved opportunity to address Brighton's growing demand of residents choosing to reside in this premium location."

"With its high-profile frontage of over 32m* to New Street, flexible residential zoning, and proximity to Elsternwick Park and Elwood Beach, this site offers exceptional potential for a highly-sought after townhouse project in one of Melbourne's most prestigious suburbs."

The property is strategically located in a highly prestigious Brighton retail and lifestyle precinct, 800m* from Elwood Beach, offering future residents a luxurious bayside lifestyle.

Mr Radisich added, "The sale of 467 New Street comes amid significant momentum in Melbourne's development site market. We anticipate strong interest from both local and international developers looking to capitalise on the increasingly evident gap in Brighton's property market for housing options."

Recent data reveals a significant shift in housing preferences in Brighton, with an increasing number of buyers seeking properties that balance space, location, and maintenance requirements. This trend, coupled with the site's permit-approved status and prime location, positions 467 New Street as an exceptional opportunity in the current market.

Expressions-of-interest for 467 New Street, Brighton close on Thursday, 10 April 2025 at 2pm (AEST).