3 & 5 Bourke Street, Ringwood
SOLD - $4,000,000
One of Ringwood's Last Significant Sites in the High Density Zone
One of the last significant land holdings in central Ringwood, these 2 adjoining properties measuring 1640sqm (approx.), open up a world of opportunity for the savvy developer or investor.
Located in a coveted residential growth zone (RGZ1), this expansive allotment would be suitable for multi-storey apartments (subject to council approval). Alternatively, it could be ideal for land banking; simply acquiring the land and keeping it as is will prove beneficial, as the growth of the area will ensure a high return on investment as evidenced by the activity seen in the surrounding blocks.
Location wise, leading conveniences including Eastland, Costco and Ringwood Station are all within a few hundred metres, schools and parks are within momentary reach, and nearby is the Eastern Freeway/Eastlink which provides easy access to both the CBD and the Mornington Peninsula.
A major presence in the Eastern suburbs, Ringwood is a high priority area for commercial and residential growth. The Eastland redevelopment is set to open by Christmas 2015 as is the Aquanation State Diving and Regional Aquatic Centre. The Ringwood Train Station upgrade is also set for completion by 2016.
*3 Bourke is currently tenanted, 5 Bourke is vacant land
*100m from Eastland & 200m from Costco (approx.)
*400m from Ringwood Station (approx.)
*Moments from Aquinas College & Great Ryrie Primary
*Within the Ringwood Secondary College school zone
*Near to Ringwood Lake & Ringwood Private Hospital