The property, 8 Gordon Street, occupies a massive 11,740sq m (3 acre) site zoned for Residential Growth with height potential of up to 8 levels on some parts of the property and is being offered for sale with vacant possession.  The property will be sold by Public Tender, expected to close in early June.

Savills Australia’s Clinton Baxter, Nick Peden and Jesse Radisich have been appointed to market the property, saying they expected strong interest from a complete cross section of the market covering “the full range of developers”, from the residential, commercial, build-to-rent, social infrastructure, education, aged-care and healthcare sectors.

“This sale will undoubtedly attract international attention by virtue of it being the most significant inner-Melbourne site to be offered to the market in 2021,” Mr Baxter said,

“There simply isn’t another site of such magnitude and offering a unique array of amenity and positive attributes within the inner suburbs of Melbourne.

“This is one of those exceptional properties that very rarely hits the market offering all of the attributes for a successful redevelopment. In this case favourable Residential Growth zoning, abundant surrounding amenity including retail, public transport, bay beaches, and numerous prestigious schools, coupled with stunning views across the adjoining Rippon Lea Gardens.’’

The offering follows Savills sale of the ABC’s nearby Selwyn Street property to Woolworths for almost $50 million in 2017.

The site adjoins the magnificent heritage-protected Rippon Lea Estate and is just a short walk from Elsternwick railway station and the vibrant Glen Huntly Road retail strip.

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