The Catholic Archdiocese of Melbourne has appointed Stonebridge Property Group to manage the sale of four (4) high quality infill development site opportunities across suburban Melbourne.

Buyers can purchase a single site, any combination or all four properties, offering exceptional diversity and spread of offering. The four sites, zoned for residential and mixed use, are sized between 0.8ha and 2.7ha, and are anticipated to generated interest from residential subdivision and townhouse developers, as well as aged care, medical and mixed-use developers and operators.

The properties will be marketed for sale via an international expressions of interest campaign closing 25 November 2020.

The property addresses are as follows:

• 165 Mitchells Lane, Sunbury

• 27A Palmer Parade, Derrimut

• 85A Bassets Road, Doreen

• 22-24 Murray Road, Croydon

Partner of Stonebridge Property Group, Julian White, who will manage the sale program with colleague, Chao Zhang, said “that despite market interruption throughout 2020, there is clearly pent up demand in the development sector, as buyers have had such limited opportunities over recent months. We have been fielding a lot of calls over the past two weeks, with developers making it clear they want to buy. These groups understand that as we look to ease out of current COVID restrictions, Melbourne’s excellent market fundamentals of strong population growth and demand will return, making now the perfect time to be securing a pipeline of development supply to meet this demand.”

Chao Zhang added “what is also really interesting, is that over the past 12 months, all four suburbs are showing positive increase in median house price. It just shows how resilient of a market we are fortunate to enjoy in Melbourne. The buyers of these sites will be able to take advantage of this.”

A spokesperson of the Catholic Archdiocese of Melbourne said “the sale process was an important divestment strategy, to realise real estate assets that are no longer required. Proceeds from the sales will be reinvested to support the new missional footing initiated by Archbishop Comensoli in 2019, bringing resources and services to parishes and communities where need is greatest. We want to release its financial value, so that we can put that value where it matters, into people”.