High Profile Development Site in Residential Growth Zone
Located in the heart of the Ringwood Metropolitan Activity Centre, on offer are two adjoining properties selling as one - measuring a total of 1620sqm (approx.) - with options to either develop or land bank (subject to council approval).
Within the Residential Growth Zone Schedule 1 (RGZ1), there is potential here to develop a multi-storey complex of either apartments or terraced townhouses, the choice is yours. Combined, the sites can increase the allowed building height for such a development (subject to council approval).
Alternatively, the existing homes would be ideal to live in or rent out until your future plans are realised. Number 41 is a well-maintained period home that features three bedrooms, two bathrooms and a double garage while Number 43 is fully renovated with two bedrooms, one bathroom and a single garage.
Cementing its place as a new urban destination in Melbourne's east with a thriving city centre and active local economy, Ringwood has already received multi-million dollar upgrades to the train station and bus interchange as well as Eastland Shopping Centre (currently in the final stages of completion). Eastern Freeway/EastLink provides quick and easy access to both the CBD and Mornington Peninsula. Within easy walking distance of all this, as well as Costco, Aquanation Leisure Centre, Aquinas College, primary schools and zoning for Ringwood Secondary College further sweetening the deal.
It's easy to see why investor confidence is at an all-time high here, so be quick to secure this rare and remarkable opportunity!