An investment marketed as a development opportunity in the outer south-east Melbourne suburb of Berwick is selling for a speculated price of about $7.5 million.
At 60 Kangan Drive, the 5000 square metre parcel (pictured top and left) includes a 962 sqm building leased to a swim centre which pays annual rent of about $300,000.
The property was marketed by agency Fitzroys for its potential to make way for a variety of development outcomes for aged care, child care, medical or educational occupants.
The site is near the multi-level Monash Health Casey Hospital and St John of God Berwick Hospital which abuts the Monash Freeway. Several car dealerships, occupied by makers Hyundai, Mitsubishi, Volvo, Kia and Nissan, are also in the vicinity, about 37 kilometres from the CBD.
Brokers David Bourke, James Lockwood and Chris James described the asset as one of the last remaining land parcels in the area. They added the fast growing municipality is forecast to accommodate more than 514,000 residents by 2041.
An expressions of interest campaign for the site closed on August 22.