Pirovich offers strategic former Yarra Honda site with permit for a seven level office

An artist’s impression of the permitted seven level building.

Local developer Pirovich is selling a prominent Abbotsford development site amalgamated in two parts over two years.

The holding, with three street frontages, includes the former Yarra Honda car dealership at 329 Johnston Street – a 1477 square metre plot it bought in 2016.

Last year, the developer acquired two adjoining residential homes – increasing its land holding to 1912 sqm.

Pirovich later won approval to replace the block with a seven-level office building containing 6517 sqm of area.

However, with a proposed rezoning of the land to the flexible Commercial 1 (it is currently part zoned Commercial 2 and General Residential 2), an incoming owner could consider something taller – and with residential.

Any building on the site, at the south-east corner of tree-lined Nicholson Street, would capture views to the Melbourne CBD less than three kilometres away. It would offer Studley Park vistas, too.

The Yarra River, which acts as the Abbotsford suburb border with Kew, is also in the vicinity.

Savills Nick Peden, Jesse Radisich and Benson Zhou are representing Pirovich. The site is expected to sell for about $11.5 million following an expressions of interest campaign closing on October 23.

Elsewhere in the suburb, investors Lascorp and the Herzog Group recently listed for sale an office built into the former Weston’s Biscuit Factory in Grosvenor Street.

Local developer Joseph Chahin is also selling a development site at 11-17 South Audley Street currently leased to the Carlton Brewhouse.

An aerial image showing the Abbotsford site (highlighted) in relation to the Melbourne CBD.


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Marc Pallisco

A freelance property writer and experienced analyst, Marc is the co-founder of realestatesource.com.au