Major Development Site in Canterbury’s Maling Road Hits Market
The site carries a flexible Residential 1 zoning, meaning it would be straightforward to propose a high density apartment project with ground floor retail and maybe some office space.
Sources estimate the block could yield a major project with an end value of about $50 million – which would make it one of the biggest developments in the conservative eastern suburb.
By comparison, two projects in adjoining Camberwell – including Aerial which will replace the Henley Honda site, and The Place, to be developed on a platform abutting the station – are estimated to have an end value of between $100 million and $150 million.
John H Castran director John Castran, Brian Rayner and Grita Angelucci will auction the Canterbury site at 1pm on Thursday October 28.
