1273 - 1275 TOORAK ROAD CAMBERWELL
FOR PRIVATE SALE
Two solid brick stand alone three bedroom ho
1273
31 METRE FRONTAGE
omes on separate titles.
1273 - 1275 TOORAK ROAD CAMBERWELL
CONTENTS 04 INTRODUCTION 06 EXECUTIVE SUMMARY
1275
08 LOCATION 12 SUBURB PROFILE 14 PROPERTY PARTICULARS 18 FUTURE POTENTIAL 19 MARKET COMMENTARY 20 MARKET SALES ACTIVITY 22 SALE METHOD
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INTRODUCTION
Aston Commercial are pleased to offer 1273-1275 Toorak Road, Camberwell for private sale. These two outstanding properties are nestled between Highfield and Through Roads north of Toorak Road in a lovely leafy green setting just moments away from popular shops, cafes and convenient transport options. Positioned in one of Melbourne’s most sought and regarded inner eastern suburbs this 1,448 sqm parcel of land has two generous existing family homes. Offering developer’s and the astute property person an opportunity to redevelop this site capitalising on the strong underlying local residential market in this blue-collar suburb. Potential outcomes include Residential townhouses or apartments along with more specialised uses such as Child Care, Medical or Allied Health. Aston Commercial believes there is enormous upside to this site and encourages your serious consideration.
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1273 - 1275 TOORAK ROAD CAMBERWELL
EXECUTIVE SUMMARY
1273 - 1275 TOORAK ROAD CAMBERWELL Two solid brick stand alone (3) bedroom homes on separate titles. The property sits on the north side of Toorak Road approximately 10km east of the Melbourne CBD between Hartwell & Burwood Shopping villages.
LAND AREA
ZONING
1,448 sqm*
NRZ1 - Neighbourhood Residential - Schedule 1
METHOD OF SALE
TERMS OF SALE
For Private Sale
10% deposit with the balance payable in 60-120 days *approx.
EXCLUSIVE SELLING AGENTS
6
Liam Rafferty
Jeremy Gruzewski
Senior Sales Executive 0421 886 655 liam@astoncommercial.com.au
Director of Agency 0422 211 021 jeremy@astoncommercial.com.au
1273 - 1275 TOORAK ROAD CAMBERWELL
LOCATION
Toorak Road Camberwell is wellestablished and recognised for two local retail precincts known as the Burwood Village and Hartwell Shopping precinct. Both are anchored by major retailers, independent operators and quality Food and Beveridge establishments. Chemist Warehouse Australia Post BP IGA Camberwell McDonalds Leo’s Fine Foods
This location is well established with globally recognised education facilities. Hartwell Primary School Wattle Park Primary School Siena College Emmaus College Deakin University Presbyterian Ladies College
With a tram on its doorstep and a short distance to Burwood Train Station, access around the area and across Melbourne could not be any easier. Trams along Toorak Road Burwood Railway Station Warrigal Road M1 Monash Freeway
The area is central to a number of beautiful parks and sporting grounds. Lynden Park Hartwell Sportsground Wattle Park Highfield Park Ferndale Park
Camberwell Junction Shopping Strip (3.6km) Chadstone Shopping Centre (5.2km) Box Hill Activity Centre (5.6km)
SUBURB PROFILE
CAMBERWELL 3124
An eastern suburb residential pocket that has experienced significant growth and continued demand due to its proximity to leading schools, transport, lifestyle attractions and position to the city. 1273-1275 Toorak Road Camberwell is located on the North side of Toorak Road between popular connecting roads Highfield and Through Roads. The property sits approximately 10km* east of the Melbourne CBD within the municipality of Boroondara City Council. Camberwell is a refined and prestigious suburb with magnificent old trees, enviable period homes and lovely hilly shopping strips where trams trundle past boutiques and cafes along with fine supermarkets and stores, the pace here is stylish. With its schools, public transport, large period homes and relative proximity to the city, Camberwell is very popular with families whose kids are studying, as well as older couples and independent people who enjoy the relaxed, leafy style of Camberwell living.
Surrounding Suburbs:
Hawthorn East Glen Iris Ashburton Surrey Hills Burwood
BUY
RENT
Median Unit Price $790,000
Median Unit Price $445 per wee
Median House Price $2,550,000
Median House Price $750 per week Source: REA
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MEDIAN HOUSE PRICE $2.55M
PROPERTY PARTICULARS
TITLE PARTICULARS
ZONING
1273 Toorak Road Volume: 05334 Folio: 665 Lot 12 on Plan of Subdivision 011858
Under the City of Boroondara Planning Scheme the land is zoned (NRZ1) Neighbourhood Residential Zone - Schedule 1.
1275 Toorak Road Volume: 06055 Folio: 991 Lot 13 on Plan of Subdivision 011858
COMBINED LAND DIMENSIONS AND AREA
Toorak Road Frontage
31.69 metres*
Rear Boundary
31.69 metres*
Depth
45.72 metres*
Total Land Area:
1,448 sqm*
*approx.
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FUTURE POTENTIAL
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Townhouses
Apartments
A natural fit for this site leveraging the wide street frontage to enable a maximum number of townhouse and single-entry driveway. Demand for this area due to its lifestyle and schools has seen the market increase 8.1% just in the last quarter.
Opportunity to deliver a fantastic residential project capitalising on the prime Camberwell location and superb local amenity with a precedent for 3 levels in the immediate area.
Childcare
Medical
Potential to construct a boutique to midsized childcare centre with at-grade or dual level options potentially achievable. The local area currently has a number of older style centres opening the door for the delivery of a new state of the art building to accommodate the heavily populated family area.
Subject to planning approval the site could work well for Allied Health and Specialist medical. The immediate area has become recognised as a health precinct with several other specialists locally including Epworth Camberwell.
MARKET COMMENTARY
Melbourne Childcare Centres Top Investor Wish List. More than $220-million worth of childcare assets have changed hands this year as investors continue to pivot towards “essential services real estate” during the pandemic. According to JLL, the figure is more than double last year’s total of $135 million in transactions. While interest in the childcare sector had already been steady, the impact from the Covid-19 disruption during 2020, and continued snap lockdowns in NSW and Victoria, has accelerated consumer demand and investor appetite. Victoria remained the biggest destination for investment in the sector, recording $92-million worth of sales with initial yields averaging 5.33 per cent. “Victorian childcare vendors have been able to capitalise on the resurgence in investment activity in 2021 as a result of strong growth forecasts in the under-four age group over the next two decades,” Stafford said. “Comparatively higher fees and a relatively lower number of centres per capita in Victoria have provided a competitive edge for Victorian childcare assets.” The $11.2-billion sector has long enjoyed bipartisan support, receiving some of the earliest specialist stimulus packages provided to any sector by the federal government. The federal government classified childcare as an “essential service” throughout the pandemic, and announced $1.7 billion in subsidies over the next five years in its recent budget to support workforce participation and tip an extra $1.5 billion back into the GDP. Investors have also been drawn to increasing sales rates per childcare place which have steadily lifted since 2015, growing by 68.9 per cent from $33,598 per place to $56,750 per place.
Source: Urban Developer
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1319 Toorak Road, Camberwell
SO
LD
MARKET SALES ACTIVITY
DATE:
September 2021
LAND AREA:
716 sqm
$ PSM:
$2,583
1283 Toorak Road, Camberwell
SO
LD
PRICE: $1,850,000
DATE:
August 2021
LAND AREA:
691 sqm
$ PSM:
$2,850
215 Highfield Road, Camberwell
SO
LD
PRICE: $1,970,000
DATE:
July 2021
PRICE: $3,960,000
20
LAND AREA:
1,415 sqm
$ PSM:
$2,798
LD SO
1300-1302 Toorak Road, Camberwell DATE:
June 2021
LAND AREA:
1,398 sqm
$ PSM:
$3,791
1034 Toorak Road, Camberwell
SO
LD
PRICE: $5,300,000
DATE:
June 2021
LAND AREA:
1,179 sqm
$ PSM:
$3,159
43 Through Road, Camberwell
SO
LD
PRICE: $3,725,000
DATE:
June 2021
PRICE: $2,088,000 LAND AREA:
766 sqm
$ PSM:
$2,725
21
SALE METHOD
1273 - 1275 TOORAK ROAD CAMBERWELL METHOD OF SALE
TERMS OF SALE
For Private Sale.
10% deposit with the balance payable in 60-120 days.
INSPECTIONS
CONTRACT OF SALE & VENDORS STATEMENT
Strictly by private appointment with the exclusive selling agents.
Available upon request.
EXCLUSIVE SELLING AGENTS
22
Liam Rafferty
Jeremy Gruzewski
Senior Sales Executive 0421 886 655 liam@astoncommercial.com.au
Director of Agency 0422 211 021 jeremy@astoncommercial.com.au
DISCLAIMER “Materials” refers to any representations, statements, documents, data, statistics, measurements, estimates, figures, calculations, projections, approximates or otherwise stated by Aston Commercial Pty Ltd whether verbally or in writing. The Materials have been collated to assist potential purchasers for advertising and general information only to assist potential purchasers to decide whether to proceed with further investigation in relation to the property or the land. The Materials provided by Aston Commercial does not constitute any offer or contract of sale and is not to be relied upon prior to signing any relevant contract. Any dimensions or measurements of the property or the land (internal and external) are approximates only and should not be relied upon before signing any contract. The potential purchaser must conduct investigations to satisfy themselves that any Materials provided are accurate. Aston Commercial excludes unequivocally all inferred or implied terms, conditions and warranties arising out of the Materials and excludes all liability for loss and damage arising therefrom. *Approximate
