The Department of Treasury and Finance has listed the prominent property which for decades accommodated the Burwood police station.
At 64 Burwood Highway, on the south east corner of Scott Grove, the 804 square metre Commercial 1 zoned site has development upside, either with a new project or extension of the existing structure.
A height up to six storeys could be considered.
Alternatively, the 180 sqm ex-police station building could be renovated as offices, retail, or another essential services product, like a medical centre; it is passed by more than 29,000 vehicles a day.
A restaurant could also be a development outcome, the holding being opposite a McDonald’s, and the corner site easily able to accommodate a drive-thru.
Burwood is 14 kilometres east of Melbourne.
Ex-Burwood Police Station
Savills’ Julian Heatherich, Benson Zhou, Tim Grant and James Latos are marketing 64 Burwood Highway, which they said is walking distance to Deakin University, with 26,000 students, and the Burwood Village shopping centre, part of which is in Camberwell, at the Glen Iris border.
Given it is crown land, no stamp duty would be payable, they added (story continues below).
The guide is over $2 million.
“There is considerable upside in undertaking complete redevelopment with additional levels achievable though we expect that some buyers will seek to give the former police station a second life by refurbishing or making additions to the building,” Mr Heatherich said.
“The property is surrounded by an abundance of retail and lifestyle amenity, education facilities and public transport and will benefit from direct proximity to well known national and international brands along a prominent commercial corridor,” he added.
“Furthermore, just four kms away is Chadstone, the largest shopping mall in the Southern hemisphere,” according to the executive.
The Burwood Highway site is near a former Penfold Holden dealership Aldi purchased in 2015 for $8.69m to occupy.
It is also close to the ex-Trinity Manor aged care home which sold last month for $12.58m to an offshore investor with plans for a residential services facility for NDIS participants.
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