A permit-ready childcare centre site at the edge of Frasers Property Australia’s Greenvale Gardens housing estate, in Melbourne’s north, has sold for $2.2 million.
The 3016 square metre parcel, 1 Greenvale Gardens Boulevard, at the south west corner of Mickleham Road, has for the last couple of years accommodated a residential display suite.
Savills’ Julian Heatherich, Mark Stafford and Benson Zhou offered it permit-ready for a 190-place complex.
The agents also promoted alternative development schemes – one including a childcare centre half the size and two housing lots.
It is trading to a builder as opposed to an operator.
Mr Heatherich said the Greenvale property is the sixth the agency has sold in three months “demonstrating the confidence within the sector” despite the COVID-19 backdrop.
Greenvale’s top end earmarked for much more construction
Known as 1075 Mickleham Rd when it was a showroom – the property is less than 200 metres from Greenvale North West Primary School, set to open next year (story continues below).
Greenvale Reservoir is a little further distance than that.
Greenvale Shopping Centre, which has been expanding care of a medical centre development at the north east corner of Greenvale Drive, is about three kilometres closer to the city.
Mr Heatherich said 1 Greenvale Gardens Blvd is affected by planning principles within the Greenvale West Precinct Structure Plan – which is long-term set to cater for about 1323 dwellings accommodating 3704 residents.
Greenvale, between 21-25 kilometres from the city, garnered popularity in the 1980s for its large homes on big blocks – many of an acre.
Nowadays the average residential subdivision is about 450 sqm – nearly a tenth of that.
The two abutting suburbs north are Craigieburn – which has also been undergoing a building boom for the past 20 years – and Yuroke, outside of Melbourne’s Urban Growth Boundary.