Windsor Shop Sets Record as Developers Eye Neighbouring Airspace for Redevelopment

The tiny shop, on a small 80 square metre block, sold at auction last week for more than $900,000, or $11,312 per square metre of land, according to Beller selling agent Fred Nucara.

McGrath’s is opposite the Windsor train station, but more importantly abuts airspace which is likely to be developed into retail space, longer term.

Both the Stonnington City Council and VicTrack – which owns land surrounding most train, tram and bus stations in the State – have signalled longer term to redevelopment airspace around the Windsor station, but that plans have not moved beyond concept stage.

It was just ten years ago, the council and VicTrack developed shops above a train line on Chapel Street, closer to Toorak Road.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.

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