27 Palmerston Crescent and 29-33 Palmerston Crescent, South Melbourne will be marketed by CBRE’s Nathan Mufale, Scott Hawthorne, David Minty and JJ Heng.

The combined landholding provides 1,000sqm of commercial 1 zone land and will be an appealing development opportunity on a global scale.

The triple fronted site is surrounded by several residential, hotel and commercial office developments either approved or under construction.

The accessibility of the South Melbourne precinct has fuelled its popularity among residential developers such as Holder East, Fortis, Enshine, Milbex, Crema Group and Virgate Property Group. The immediate area is also proximate to 1 Albert Road, dubbed “The Tower of Power” for being home to a selection of Melbourne’s elite.

“The immediate zone is full of lifestyle amenity that can support a high-density development, and the flexible commercial 1 zone land is perfectly positioned for a landmark, precinct defining project of size and scale, catering for a range of development outcomes, including residential, office, hotel and mixed- use” Mr Mufale said.

Palmerston Crescent runs between St Kilda Road and Kings Way, within the Domain Precinct. It benefits from parklands at either end – the Botanic Gardens and Albert Park – as well as access to some of Melbourne’s most prestigious suburbs such as South Yarra, Albert Park, Brighton and Toorak.

In addition to the tram stop on its doorstep, Mr Mufale said the impending delivery of Anzac Station as part of the new Metro Rail network would provide direct connectivity into the Melbourne CBD and major universities as well as the southeastern suburbs via the Pakenham, Cranbourne and Frankston train lines.

“Whichever way you look at it, the new train station is game-changer for sites like 27 & 29-33 Palmerston Crescent, which will enjoy direct access to all parts of Melbourne and provide future occupants with the very best of transport and retail amenity” Mr Mufale said.

Situated on the corner of Palmerston Place near Kings Way, immediately behind Prime Value Asset Management’s multi-level office building at 60 Albert Road, the site is within reach of the under- construction ANZAC train station – sparking major activation to the surrounding precinct.

Mr Hawthorne noted that 27 & 29-33 Palmerston Crescent’s large landholding and air rights provided a genuine “x-factor”, which could underpin future repurposing strategies.

“It’s arguably an opportunity for the next cycle, but, given the property’s prime location, three street frontages, vistas and strong holding income, we’re expecting strong interest from land bankers and developers who are seeking well located, land-rich properties,” Mr Hawthorne said.

344sqm of prime South Melbourne land is being offered to the market for the first time in 12 years.

21 Dorcas Street, South Melbourne will be marketed by CBRE’s Scott Hawthorne, Nathan Mufale, David Minty and JJ Heng.

The site is being offered by private investors who have decided to offload their South Melbourne headquarters to an astute developer or owner occupier.

This commercial 1 zone offering is surrounded by several developments both approved and under development including residential, hotel and commercial office developments.

Currently one of the most sought after development precincts in Melbourne, several A-grade developers are vying for opportunities in South Melbourne to be near the new ANZAC train station.

The nearby office building at 11-17 Dorcas Street, South Melbourne was acquired by prominent developer V-leader in conjunction with Time & Place Developments, who recently gained approval for a 19-level residential development on the site.

https://www.portphillip.vic.gov.au/media/cham3wgl/11-17-dorcas-street-at...

Forming part of Victoria’s Big Build, the new Anzac Station, will provide outstanding rail connectivity to Melbourne’s CBD and major universities as well as the southeastern suburbs via the Pakenham, Cranbourne, and Frankston train lines.

“Government projects such as the Metro Rail Loop highlight the demand for world-class infrastructure in South Melbourne. This new development is game-changer and will provide direct access to all parts of Melbourne, allowing future occupants in the area with the best transport and retail amenity” Mr Mufale said.

Dorcas Street is one of South Melbourne’s blue-chip streets, home to some of the finest development projects. The Evermore, located at 52 Dorcas Street & Growthpoint Properties’ 75 Dorcas Street are just some of the a-grade developments proximate to 21 Dorcas Street.

To request a copy of the Information Memorandum please contact one of the marketing agents CBRE’s Nathan Mufale, Scott Hawthorne, David Minty and JJ Heng via the contact details below.