A rare and exceptional development opportunity has arisen in Melbourne’s sought-after riverside enclave of Alphington.

A substantial 3,100sqm landholding – the last remaining large undeveloped parcel in the enclave - with over 65m of street frontage, offers unparalleled potential for a luxury residential development (STCA) in one of Melbourne’s most desirable locations.

Offered for the first time in over 80 years, the modest home on the site at 20 Coate Avenue, Alphington, sits within a Neighbourhood Residential Zone and is surrounded by an enviable mix of lifestyle and convenience, benefiting from its immediate proximity to the rapidly developing Yarra Bend Precinct, with its high-end residential developments, a proposed full-line supermarket, co-working commercial spaces, and a childcare centre.

Adding to its appeal, the property is located near top schools, expansive parklands, and recreational facilities, further cementing its potential as a premier residential address.

Exclusive agents, Savills Australia and New Zealand bring the property to market, marking a unique chance to secure a prized asset in a tightly held area.

“This opportunity ticks all the boxes of what developers are looking for in the current market,” said Julian Heatherich, Director, Commercial Sales at Savills Australia and New Zealand.

“The combination of scale, location, and strong median house prices creates a compelling proposition, and we expect strong interest from active groups,” he said.

Commenting on the asset’s rarity, James Latos, Associate Director, Commercial Sales at Savills Australia and New Zealand, added, “Sites of this scale seldom come up for sale in Alphington. The last transaction of this nature was over 15 years ago, and this property has remained in the same family for a century. Its history and scale make it a truly unique offering.”

Nestled near the Heidelberg Road retail precinct, the property’s tree-lined position is enhanced by excellent access to major arterials, including the Eastern Freeway, and public transport options, with train stations nearby providing direct access to Melbourne’s CBD. The surrounding parks and recreational facilities, including Coate Park, Alphington Park Oval, and the Old Alphington Swimming Pool, further enhancing its desirability.

“This is a premium opportunity to deliver a landmark project in an established and prestigious neighbourhood,” said Benson Zhou, Director, Commercial Sales at Savills Australia and New Zealand.

“The site’s accessibility, combined with its exclusivity, makes it highly attractive to developers seeking to create luxury living experiences in Melbourne’s inner suburbs,” he concluded.

The property is being offered for sale by Expression of Interest, closing on Wednesday 26 February at 2:00pm AEDT.