A former Southern Rural Water Site is being offered for sale with a planning permit for 58 townhouses.

CBRE’s David Minty, Nathan Mufale, and JJ Heng have been appointed to market 3 Tower Road, Werribee for sale.

The almost 10,000sqm* Activity Centre Zone landholding is located near the edge of the city centre and is identified in the Werribee City Centre Structure Plan as an area for higher-density mixed-use development. 

“The site’s permit will be a key selling point as the density achieved is very significant for the location and will deliver a sizeable gross realisation for the end purchaser” Mr Minty Said.

“The project features two & three level townhouses which will be ideal for either first home buyers or downsizers and priced at levels which would qualify for an exemption to stamp duty.” Said Mr Minty. 

“With close to a hectare of land we anticipate interest also from aged care & retirement living groups to follow the success of established nearby villages including Ingenia Federation, Heathglen, Levande, Lifestyle Seasons & Wyndham Grange. Mr Mufale.

“With the RBA moving to keep interest rates on hold at Tuesday’s board meeting, we expect this to resonate stability and stimulate confidence across the market. As a direct result we expect to see a strong rebound in transactional volumes when compared to 2023” Mr Mufale noted.

The Expressions of Interest campaign closes on the Friday 15th March.

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